Question

A period during which real GDP declines for two quarters in a row, or six consecutive months, is most likely a

Answer 1

The option B is correct.

A period during which real GDP declines for two quarters in a row, or six consecutive months, is most likely a recession.

Further Explanation:

Recession: It is a phase in economic cycle during which real gross domestic product declines for six consecutive months or two quarters consecutively.

Justification for correct and incorrect answer:

A.  

Peak: This option is incorrect.

It is a point in the economic cycle from where the real gross domestic product stops moving in upward direction.

B.  

Recession: This option is correct.

It is a phase in economic cycle during which real gross domestic product declines for six consecutive months or two quarters consecutively.

C.  

Recovery: This option is incorrect.

It is the first stage of expansion phase in economic cycle where the real gross domestic product is remains positive as economy rebounds.

D.

Trough: This option is incorrect.

It is a turnaround point in the economic cycle from where real gross domestic product stops moving in downward direction.

Therefore, option B is correct.

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Answer details:

Grade: High School

Subject: Economics

Chapter:Economic Cycle

Keywords:A period during which real GDP declines for two quarters in a row, or six consecutive months, is most likely, peak, recession, recovery, trough

Answer 2

The correct answer is - B. Recession.

The recession can simple be defined as a decline in the Gross Domestic Product for at least two quarters/six months in a row in a certain country, or economic organization.

A recession has experienced every country in the world, and while some have been only on the short term, and have made quick recoveries, some have been having it much harder and for longer periods of times, which can even lead a country or economic organization to bankruptcy.