Question

An economy is experiencing two consecutive quarters of negative economic growth. What is the economy experiencing?

A: Budget Deficit
B: Inflation
C: Recession
D: Trade Deficit

Answer 1

Answer:

The working definition of a recession is twoconsecutive quarters of negative economicgrowth as measured by a country's gross domestic product (GDP), although the National Bureau of Economic Research (NBER) does not necessarily need to see this occur to call a recession, and uses more frequently reported monthly data ...