Question
Real GDP in Japan decreased 7.3% in the second quarter of 2014 and decreased 1.6% in the third quarter. Which of these statements is true?
Real GDP in Japan decreased 7.3% in the second quarter of 2014 and decreased 1.6% in the third quarter. Which of these statements is true?
Group of answer choices
According to the official definition of recession, Japan's economy reached a peak in the second quarter.
Japan will be in a recession according to the popular definition only if there is at least one more quarter of negative GDP growth
The GDP decrease could be explained by a fall in savings
According to the popular definition, Japan is in a recession.
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Economics Today
Authors: Roger LeRoy Miller
16th edition
132554615, 978-0132554619
