Economics · Oct / Nov 2018 · Paper 13 · Question 20
2281Economic growth
When is a recession said to occur?
- AEconomic growth in the economy falls for at least two consecutive quarters.
- BGross domestic product (GDP) falls for at least two consecutive quarters.
- CThe current account of the balance of payment is in deficit for at least two consecutive quarters.
- DThe government experiences a budget deficit for at least two consecutive quarters.
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Correct answer: B. Gross domestic product (GDP) falls for at least two consecutive quarters.
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