Q. Which of the following is wrongly matched? (Solved)
1. Depression: Insufficient demand causing large scale unemployment of men and machinery over a long period of time
2. Recession: Reduction in demand and production/ investment over a short period of time
3. Stagflation: slow pace of economic activity due to falling prices
4. Boom: Rapid and all-round spurt in economic activity
- c. Stagflation: slow pace of economic activity due to falling prices