Which of the following statements is not true ........

Economic Affairs Growth and Indicators

Which of the following statements is not true?

Recovery is the end of recession or decline.

The term boom refers to a great build up in the prices in a sector of the economy.

Deflation occurs when the annual inflation rate falls below zero percent, resulting in an increase in the real value of money.

Depression is not necessarily a prolonged recession

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Explanation:

4th statement is incorrect.
In economics, a depression is a sustained, long-term downturn in economic activity in one or more economies. It is a more severe economic downturn than a recession, which is a slowdown in economic activity over the course of a normal business cycle.
The Great Depression of 1929 had a very severe impact on India, which was then under the rule of the British Raj. The Government of British India adopted a protective trade policy which, though beneficial to the United Kingdom, caused great damage to the Indian economy.