Trivia Thursday

Which of the options below is FALSE about RECESSION?

 

A.   A recession is a significant decline in economic activity across the economy, lasting for two or more months.

 

B.   A recession is when the Gross Domestic Product (GDP) growth rate is negative for two consecutive quarters or more.

 

 

C.   A recession is when an economy has reached the lowest level of production.

 

D.   A recession is a significant decline in economic activity, real income, employment, industrial production, and sales following a decline in the aggregate demand for at least two quarters.

 

The answer is B