ECONOMICS
ECONOMIC GROWTH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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frictional
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seasonal
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structural
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cyclical
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Detailed explanation-1: -Recession – A period in which demand begins to decrease, businesses lower production, unemployment rises, and GDP growth slows for two or more quarters of a calendar year.
Detailed explanation-2: -A recession is a short period of declining output whereas a structural stagnation is a period of protracted slow growth and high unemployment. AND Unemployment is due to temporary layoffs in a recession but longer-term changes in a structural stagnation.
Detailed explanation-3: -So, GDP measures the size of the economy. That is, GDP measures the total market value of all final goods and services produced in an economy in a given year.
Detailed explanation-4: -Which of the following allow the economy to achieve a higher rate of economic growth? Stronger productivity growth and heightened global competition.