Match List I with List II and select the correct answer using the codes given below the Lists

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Q: 73 (IAS/2000)
Match List I with List II and select the correct answer using the codes given below the Lists
List IList II
I. Boom(A) Business activity at high level with increasing income, output and employment at macro level
II. Recession(B) Gradual fall of income, output and employment with business activity in a low gear
III. Depression(C) Unprecedented level of under employment and unemployment, drastic fall in income, output and employment
IV. Recovery(D) Steady rise in the general level of prices, income, output and employment

question_subject: 

Economics

question_exam: 

IAS

stats: 

0,166,22,166,13,4,5

keywords: 

{'iv': [6, 110, 77, 8]}

The correct answer is:

I-A, II-B, III-C, IV-D

Explanation:

- Boom (I) refers to a period of high business activity with increasing income, output, and employment at a macro level.

- Recession (II) is characterized by a gradual fall in income, output, and employment with business activity in a low gear.

- Depression (III) represents an unprecedented level of underemployment and unemployment, along with a drastic fall in income, output, and employment.

- Recovery (IV) signifies a steady rise in the general level of prices, income, output, and employment, indicating an improvement in the economic conditions after a downturn.

Therefore, the correct match is I-A, II-B, III-C, IV-D.