<u>The option B is correct.
</u>
<u>A period during which real GDP declines for two quarters in a row, or six consecutive months, is most likely a recession.</u>
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.
<u>Therefore, option B is correct.</u>
Learn more:
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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