Question

what is a recession? 1 point an extended period of contraction a period of contraction lasting at least 2 quarters to bring down the debt, decreasing taxes could mean more consumer spending, meaning more taxes collected and an decrease in the deficit. this is the opposite of fiscal policy recommended in macro economics which is states _ decreasing taxes means less money for government decreasing taxes means more money for government the current deficit is about _? 1 point 1 trillion 2 trillion 36 trillion

Explanation:

1. A recession is commonly defined as a period of contraction in the economy lasting at least 2 quarters. This is a standard economic definition.
2. In macro - economics, decreasing taxes is generally thought to mean less money for the government in the short - term as tax revenue is reduced.
3. The current deficit amount can vary over time, but historical and general knowledge about government deficits can help in making an educated guess. However, without specific time - frame, it's hard to be exact, but 1 trillion and 2 trillion have been common deficit amounts in recent years in some large economies.

Answer:

1. B. a period of contraction lasting at least 2 quarters
2. A. decreasing taxes means less money for government
3. Information about the time - frame is missing. But if we assume a general recent context in a large economy like the US, it could be either 1 trillion or 2 trillion. Since no more context is given, we can't be certain between these two options.