GROWTH DEVELOPMENT CHILD
DEVELOPMENT AND LEARNING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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recession
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Growth
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boom
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Decline
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Detailed explanation-1: -Recession: falling levels of consumer spending and confidence mean lower profits for businesses – which start to cut back on investment.
Detailed explanation-2: -The NBER’s Business Cycle Dating Committee defines a recession as “a significant decline in economic activity spread across the economy, last-ing more than a few months, normally visible in production, employment, real income, and other indicators.
Detailed explanation-3: -The point at which an expansion ends and a recession begins is called the peak of the business cycle. Real GDP then falls during a period of recession.
Detailed explanation-4: -Economic expansions begin at the trough of a business cycle-its lowest point-and end at its peak, after which the economy begins to contract, kicking off an economic recession.
Detailed explanation-5: -In basic terms, a recession is when the economy’s performance decreases for an extended period of several months, marked by GDP contraction, higher unemployment rates and lower consumer spending.