Recession and Indicators

Which of the following typically increases during a recession?

• Unemployment

• Average income

• Production

• Stock prices

GDP is the total value of goods and services that are _______

• produced all over the world

• produced in one month

• produced within a nation

• produced by a single company

A period of temporary economic decline is generally identified by a fall in the GDP in two successive quarters.

• TRUE

• FALSE

inflation is a general __________ in prices and fall in the purchasing value of money.

Select 2 features of a recession

• High Unemployment

• Higher Standard of Living

• Higher Wages

• Negative Growth

A recession is how many consecutive periods of negative growth?

• 5 years

• 3 weeks

• 1 month

• 2 quarters

When Gross Domestic Product is rising, it is an indication of economic growth.

• TRUE

• FALSE

A recession typically lasts longer than a depression.

• True

• False

GDP is a good indicator for the health of a country's economy?

• True

• False

GDP is an acronym for

• Gross Daily Product

• Great Depression Plan

• Gross Domestic Product