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8 October, 05:39

A decline in total real output for two or more consecutive quarters is referred to as

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  1. 8 October, 05:55
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    The correct answer is a recession.

    An economy is considered to be in a recession when there is a decline in total real output for two or more consecutive quarters. A recession is defined as a period of temporary economic decline during which trade and industrial activity are reduced,
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