Business cycle

Economics

In que 2,as both contraction and recession means the same then why does answer is givin as contraction only

Samarth Kshatriya

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17-Sep-22 18:13

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Answers (2)

A recession is a significant decline in general economic activity extending over a period of time. A general rule of thumb is that two consecutive quarters of economic contraction constitute a recession.

Shankari C

CA Inter

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17-Sep-22 18:37

Shankari C

Thanks sis

Thread Starter

Samarth Kshatriya

CA Inter

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17-Sep-22 18:41