Discussion
Which one of the following is known as the recession occurring two times with a small gap in between?
Answer: C
Correct answer: Double-dip Recession
A double-dip recession is one in which the economy contracts, recovers briefly, and then contracts again before the recovery is established - a W shape rather than the usual V or U. It is more damaging than a single recession of the same total depth, because the second fall arrives when confidence, reserves and policy room have already been spent on the first. Deflation is a fall in the general price level, which is a different phenomenon.
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