3. choose the characteristics of the recession phase. (check all that apply) profits are high unemployment…
3. choose the characteristics of the recession phase. (check all that apply) profits are high unemployment begins to rise the economy slows down gdp growth slows for two or more quarters businesses lower production of goods and services
Answer
Brief Explanations:
During a recession, economic activity contracts. Unemployment rises as businesses cut back on production and hiring. The economy slows down, often with GDP growth declining for two or more quarters. Businesses lower production of goods and services due to reduced demand. Profits are usually low, not high, in a recession.
Answer:
- Unemployment begins to rise
- The economy slows down
- GDP growth slows for two or more quarters
- Businesses lower production of goods and services