Economics · Macroeconomics & Growth Concepts
In a global setting where overall output continues to expand but the pace of growth weakens noticeably, which one of the following best describes the phenomenon of a 'technical recession'?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A phase in which real Gross Domestic Product continues to grow, though at a slower rate than before.
- 2A persistent collapse of output accompanied by large-scale unemployment and systemic financial distress.
- 3A fall in growth caused mainly by currency depreciation and a rise in import costs.
- 4A short-lived decline in economic activity reflected in contraction over successive periods, without necessarily implying a prolonged depression.✓
Correct answer
A short-lived decline in economic activity reflected in contraction over successive periods, without necessarily implying a prolonged depression.
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