There has been a state of recession in the economy, that is, when GDP keeps shrinking for a long time in an economy, it is believed that the economy has reached recession. It is said that when there is a continuous contraction in the economy of a country for two quarters. All production of goods and services is usually measured as GDP and when it rises from one quarter to another, there is no clear indication of how long the contraction in the economy will be called recession. And it is also not certain that GDP should be the only factor determining the recession. Let's know more about Recession And Technical Recession.
1. How long does a Technical Recession last?
A. For a long time
B. For a short time
C. For a medium time
D. None of these
2. A recession is not caused by a ______ event or factor.
A. Single
B. Double
C. Multiple
D. All of the above
3. How do you survive financially in terms of recession?
A. Expense cash reserve
B. Increasing cash reserve
C. Buy insurance policy
D. All of the above
4. Nowcast in economics means the prediction of the present or the very near _____________ of the state of the economy.
A. Present
B. Fast
C. Future
D. None of these
5. In which year nowcast began with the first issue of the Bulletin?
A. In January 1947
B. In January 1949
C. In January 1950
D. In January 1955
6. Which is a macroeconomic term that refers to a slowdown or a massive contraction in economic activities?
A. Contraction
B. Recession
C. Expansion
D. None of these
7. How many months, on average, between recessions?
A. 33 months
B. 35 months
C. 39 months
D. 49 months
8. When was the highest recession occurred?
A. 2007 to 2009
B. 2012 to 2014
C. 2015 to 2018
D. 2018 to 2021
9. As per the Reserve Bank of India {RBI}, the recessions occurred in:
A. 1958
B. 1966
C. 1973
D. All of the above
10. When was the largest recession comes after World War II?
A. December 2007
B. December 2008
C. December 2010
D. December 2011
11. Which of the following is the cause of the recession?
A. High Interest Rates
B. A Stock Market Crash
C. Falling Housing Prices and Sales
D. All of the above
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