5 Questions
What is a common rule of thumb for defining a recession?
Two consecutive quarters of negative GDP growth
According to the NBER, how do they measure recessions?
By looking at nonfarm payrolls, industrial production, and retail sales
What is the NBER's stance on the measures contributing to the recession determination process?
There is no fixed rule about what measures contribute information to the process or how they are weighted
How often were advanced economies affected by recessions between 1960 and 2007?
Roughly 10% of the time
What effect can declining consumer demand have during a recession?
Prompt companies to lay off staff and weaken consumer spending power
Test your knowledge of economic downturns with this quiz on recessions. Explore the indicators and measures used to identify and analyze recessions, including GDP growth, nonfarm payrolls, industrial production, and retail data.
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