-Refer to Exhibit 7-6

Multiple Choice

-Refer to Exhibit 7-6.Given the information provided in this table,did country ABC experience a recession during 2019 (based upon the standard definition of a recession) ?

A) Yes,country ABC experienced a recession in 2019 since its GDP declined in two consecutive quarters.
B) Yes,country ABC experienced a recession in 2019 since its GDP declined in three consecutive quarters.
C) No,country ABC did not experience a recession in 2019 because its GDP did not decline four consecutive quarters.
D) We cannot say whether or not country ABC is in a recession without knowing what its Real GDP was each quarter.