A recession is a decline in:

CA Foundation · Business Economics · MTP · June 2024
A recession is a decline in:
(A) A. The unemployment rate that lasts six months or longer
(B) B. Real GDP that lasts six months or longer
(C) C. Potential GDP that lasts six months or longer
(D) D. The inflation rate that lasts six months or longer

Suggested Answer and Working Notes:

Correct Answer: Option (B)

B. Real GDP that lasts six months or longer

Topics: Business Cycles

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