Depression is a drastic decline in a national of international economy It's characteristic is ?
Correct answer: D. All of these
- A. Decreasing business activity
- B. Falling prices
- C. Unemployment
- D. All of these
Explanation
A depression involves a prolonged and severe contraction in economic activity, commonly accompanied by falling prices and widespread unemployment. Therefore, all three listed features apply.
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About Macroeconomics
The economy is studied as a whole through national income, gross domestic product, inflation, unemployment, economic growth and business cycles. Coverage includes aggregate demand and supply, consumption and investment, money and banking, fiscal and monetary policy, exchange rates and balance of payments, which distinguishes macroeconomics from the study of individual markets.
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