During this phase, the economy just started to rise from recession then falls back into recession.Select one:a. Double Dip Recessionb. Recoveryc. Expansiond. Contraction
Question
During this phase, the economy just started to rise from recession then falls back into recession.Select one:a. Double Dip Recessionb. Recoveryc. Expansiond. Contraction
Solution
The correct answer is a. Double Dip Recession. This term is used to describe a scenario where a economy falls back into a recession just when it was starting to recover from a previous recession.
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