- CFA Exams
- CFA Level I Exam
- Topic 2. Economics
- Learning Module 2. Understanding Business Cycles
- Subject 1. Overview of the Business Cycle
CFA Practice Question
What is the definition of a recession?
B. A decrease in real GDP for 2 consecutive quarters
C. A decrease in real GDP for 3 consecutive months
A. A decrease in the growth rate of real GDP for 2 consecutive quarters
B. A decrease in real GDP for 2 consecutive quarters
C. A decrease in real GDP for 3 consecutive months
Correct Answer: B
A recession is defined as a decrease in real GDP for 2 consecutive quarters.
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