If the gross domestic product (GDP) has dropped for two ...

[newyorker26]

If the gross domestic product (GDP) has dropped for two consecutive quarters, the economy is said to be in
 
  a. inflation.
  b. deflation.
  c. recession.
  d. depression.

Question 2

Which of the following best defines the term gross domestic product?
 
  a. The average standard of living per capita
  b. The change in prices over time of a standard market basket
   c. The output of the goods and services produced by labor
   d. The unemployed as a percent of the labor force

[Animal_Goddess]

Answer to Question 1

c

Answer to Question 2

c

[newyorker26]

Thanks for the timely response, appreciate it

[patma1981]

YES! Correct, THANKS for helping me on my review