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Question

As we read these days, many world economies are passing through the recession at present. When can an economy be "in a recession"?
A) When a decline occurs in almost all major economic activities.
B) When the inflation reaches a very high rate or becomes double-digit inflation.
C) When big financial scams and Frauds start taking place.

A
Only A
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B
Only B
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C
Only C
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D
All the three
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Solution

The correct option is B Only A

As we read these days, many world economies are passing through the recession at present. An economy is said to be in a recession when a decline occurs in almost all major economic activities. Also, it is generally identified by a fall in GDP in two successive quarters.

Thus, the correct answer is A.


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