What common rule of thumb do economists use to define a recession? A decline of 5% in GDP A decline of 10% in GDP One quarter of negative GDP growth Two quarters (six months)of negative GDP growth
What common rule of thumb do economists use to define a recession? A decline of 5% in GDP A decline of 10% in GDP One quarter of negative GDP growth Two quarters (six months)of negative GDP growth
Chapter12: Business Cycles And Unemployment
Section: Chapter Questions
Problem 5SQ
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What common rule of thumb do economists use to define a recession?
-
A decline of 5% in
GDP -
A decline of 10% in GDP
-
One quarter of negative GDP growth
-
Two quarters (six months)of negative GDP growth
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