- The terms represent different phases of the economic or business cycle. - Boom is the peak, Recession is a downturn, Depression is a severe downturn, and Recovery is the upward swing towards a boom.
Match List I with List II and select the correct answer using the codes given below the Lists: List I List II A) Business activity at high level with I. Boom increasing income, output and employment at macro level B) Gradual fall of income, output and II. Reemployment with business activity in cession a low gear C) Unprecedented level of under em‐ III. Deployment and unemployment, drastic pression fall in income, output and employment D) Steady rise in the general level of IV. Reprices, income, output and employcovery ment
Asked in UPPCS Prelims 2000 · Topic: Nature of Indian Economy (Developing Economy Characteristics)
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