Question

By common definition, a recession occurs when________?

	A.	The inflation rate exceeds 3.5%.
	B.	The international deficit worsens for at least two successive quarters.
	C.	The real GDP decreases for at least two successive quarters.
	D.	The government budget deficit exceeds the national debt.

Steel is considered to be_____?

	A.	Never an intermediate good.
	B.	Always an intermediate good.
	C.	Always a final good.
	D.	Sometimes an intermediate good sometimes a final good.

Answer 1

Recession has nothing to do with that of the debt levels and the deficit levels of the country and also the inflation rate where recession is nothing but economic slowdown in terms of the growth rate where the growth involves the real GDP of the country and if the real GDP declines excessively for two quarters then this means thecountry is actually experiencing recession and because it has nothing to do with interest rate or inflation

(A,B,D) are wrong and because recession is nothing but decline in the real GDP for two successive quarters

(C) is the answer to this question

Steel is never consumed directly e as a goal for the final purpose for as a customer where it is used for the production of various goods such as plates knife surgical instruments and automobiles etc and that is the reason why steel is always considered as an intermediate good because it is not consume directly

(A,C,D) are wrong because it is only used for industrial purposes for other material production

(B) is the answer to this question