What is 39 Recession lsquo ........

Indian Economy (Easy) Growth and development

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What is 'Recession‘?

Rise in the cost of production, especially because of wageincrease

Increase in money supply without a matching increase inproduction

Reduction in production and employment for want of sufficient demand for goods

None ofthese

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Explanation:

The National Bureau of Economic Research (NBER) defines a recession as "a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in the real gross domestic product (GDP), real income, employment, industrial production, and wholesale-retail sales." A recession is also said to be when businesses cease to expand, the GDP diminishes for two consecutive quarters, the rate of unemployment rises, and housing prices decline.