During the past 2 quarters, the GDP declined by 3%, unemployment rose by .7%, and the Consumer Price Index fell off by 1.3%; this economic condition is called:
A) stagflation.
B) recession.
C) inflation.
D) depression.
Answer: B) recession.
Investments MCQ
Economics
During the past 2 quarters, the GDP declined by 3%, unemployment rose by .7%, and the Consumer Price Index fell off by 1.3%; this economic condition is called: