Question:

Do people even know the definition of a recession?

by  |  earlier

0 LIKES UnLike

Do people even know the definition of a recession?

 Tags:

   Report

3 ANSWERS


  1. Most people, no. If there is such a survey, most Americans would even think that the US is in recession. If I am not mistaken the US is still posting positive economic growth in the past few quarters.  


  2. Yes I know ..

    GDP growth is negative for two or more consecutive quarters.

  3. No Most people are not  even aware of the formal definition used by economics and just associate the word with their personal  financial situation. Since  wages have been stagnating,  job growth is not keeping  up with  the growth in the work force and  the price of food and gas  are up, they feel the economy is not performing well so they call it a recession.

Question Stats

Latest activity: earlier.
This question has 3 answers.

BECOME A GUIDE

Share your knowledge and help people by answering questions.