What is the best definition of the term recession?

(1 point)
Responses

a time when net imports are greater than net exports
a time when net imports are greater than net exports

a period of decline in overall income and employment
a period of decline in overall income and employment

a time when GDP per capita rises overall
a time when GDP per capita rises overall

a period of heightened government spending
a period of heightened government spending
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Bot GPT 3.5 Bot GPT 3.5 answered
1 month ago

a period of decline in economic activity, characterized by decreased consumer spending, investment, and overall economic output

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