Match List I with List II and select the correct answer using the codes given below the lists: A. ****

Question

Match List I with List II and select the correct answer using the codes given below the lists:

| List - I | List-II |
| A. **** | 1. Business activity at high level with increasing income, output and employment at macro level |
| B. Recession | 2. Gradual fall of income, output and employment with business activity in a low gear |
| C. Depression | 3. Unprecedented level of under employment, and unemployment, drastic fall in income output and employment. |
| D. Recovery | 4. Steady rise in the general level of prices, income, output and employment. |

Codes:
(a) A-1; B-2; C-3; D-4 (b) A-1; B-2; C- 4; D-3
(c) A-2; B-1; C- 4; D-3 (d) A-2; B-1; C-3; D-4

Answer 1

(a) is a ** of time during which sales of a product or business activity increases very rapidly. In the stock market, booms are associated with bull markets, whereas busts are associated with bear markets. Recession is A significant decline in activity across the economy, lasting longer than a few months. It is visible in industrial production, employment, real income and wholesale-retail trade. Depression is a severe and prolonged downturn in economic activity. In economics, a depression is commonly defined as an extreme recession that lasts two or more years. Economic Recovery is a ** of increasing business activity signaling the end of a recession. Much like a recession, an economic recovery is not always easy to recognize until at least several months after it has begun.