Asked by
Taylor Beecher
on Nov 22, 2024
Verified
A recession occurs when inflation rises for two or more consecutive quarters.
Recession
A period of time during which overall gross domestic product (GDP) declines for two or more consecutive quarters.
Inflation
Inflation is the rate at which the general level of prices for goods and services is rising, eroding purchasing power over time.
- Recognize the factors that result in economic recessions and growth phases.
Verified Answer
MT
Learning Objectives
- Recognize the factors that result in economic recessions and growth phases.