6 Questions
What characterizes a recession?
Negative economic growth and decline in national output
When does the economy reach the trough in a recession?
When real GDP reaches a low point at the end of the recession
What is an economic slump?
A prolonged and deep recession leading to a significant fall in output and average living standards
What does a recession signify?
A period of negative economic growth
What occurs when the economy reaches the trough in a recession?
Economic recovery becomes imminent
How does an economic slump differ from a recession?
It leads to a significant fall in output and living standards
Test your knowledge of economic recessions with this quiz. Explore the causes, impacts, and stages of a recession, and learn about the indicators of economic recovery.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
