Author Question: A common definition of a recession is a period of time A) of at least 6 months during which real ... (Read 62 times)

stevenposner · **on:** Jun 29, 2018

A common definition of a recession is a period of time

A) of at least 6 months during which real GDP decreases.
B) with an increase in real economic output from the previous period.
C) with no change in real GDP.
D) with no change in the dollar (money) value of economic output.

Question 2

The table above gives the demand schedule for peas. Between point A and point B, the price elasticity of demand equals

A) 0.11.
B) 0.50.
C) 0.22.
D) 9.09.