A period of economic activity characterized by negative growth, which reduces demand for goods and services, is known as a(n) _____.
a. recession
b. economic boom
c. trough
d. boom and bust
Answer: a. recession
A period of economic activity characterized by negative growth, which reduces demand for goods and services, is known as a(n) _____.
a. recession
b. economic boom
c. trough
d. boom and bust
Answer: a. recession