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Questions and Answers
What is a common rule of thumb used to define a recession?
What is a common rule of thumb used to define a recession?
- A widespread decline in nonfarm payrolls
- Two consecutive quarters of negative GDP growth (correct)
- A significant decrease in industrial production
- A prolonged decrease in retail sales
How do economists at the National Bureau of Economic Research (NBER) measure recessions?
How do economists at the National Bureau of Economic Research (NBER) measure recessions?
- By focusing solely on GDP growth
- By considering only consumer spending patterns
- By looking at nonfarm payrolls, industrial production, and retail sales (correct)
- By analyzing stock market performance
According to the International Monetary Fund (IMF), how many recessions affected advanced economies between 1960 and 2007?
According to the International Monetary Fund (IMF), how many recessions affected advanced economies between 1960 and 2007?
- 150
- 95
- 122 (correct)
- 78
Why can declines in economic output and employment caused by recessions become self-perpetuating?
Why can declines in economic output and employment caused by recessions become self-perpetuating?
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What has been the trend for the frequency and duration of recessions in recent years?
What has been the trend for the frequency and duration of recessions in recent years?
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