Recession & depression. - General Economics & Indian Economy

Q.  Which of the following statements is / are correct?

1. An economic contraction when GDP declines for two consecutive quarters is usually called a recession.

2. A severe recession with a 10% decline in GDP is usually called a depression.
- Published on 07 Jul 15

a. Only 1
b. Only 2
c. Both
d. None

ANSWER: Both

Related Content

➨ Post your comment / Share knowledge


Enter the code shown above:

(Note: If you cannot read the numbers in the above image, reload the page to generate a new one.)
▲