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Consider the following statem
- A V-shaped recovery occurs when, following a recession, different parts of the economy recover at different rates, times, or magnitudes.
- A K-shaped recovery is characterised by quick and effective recovery in measures of economic performance after an acute decline in the economy.
Which of the above statements is/are incorrect?
- a)1 only
- b)2 only
- c)Both 1 and 2
- d)Neither 1 nor 2
Correct answer is option 'C'. Can you explain this answer?
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Consider the following statem A V-shaped recovery occurs when, followi...
- A V-shaped recovery is characterised by quick and effective recovery in measures of economic performance after an acute decline in the economy.
- A K-shaped recovery occurs when, following a recession, different parts of the economy recover at different rates, times or magnitudes.
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Consider the following statem A V-shaped recovery occurs when, followi...
Explanation:
Statement 1: A V-shaped recovery occurs when, following a recession, different parts of the economy recover at different rates, times, or magnitudes.
A V-shaped recovery is characterized by a sharp decline in economic activity followed by a quick and robust recovery. It is called a "V-shaped" recovery because the graph of economic performance resembles a V. In this type of recovery, the economy experiences a rapid decline but bounces back just as quickly. All sectors of the economy recover at a similar rate, leading to an overall quick recovery.
Statement 2: A K-shaped recovery is characterized by quick and effective recovery in measures of economic performance after an acute decline in the economy.
A K-shaped recovery is characterized by a divergence in the recovery of different sectors or segments of the economy. In this type of recovery, some parts of the economy recover quickly and effectively, while others may continue to struggle or decline. The graph of economic performance resembles a K, with one arm going up and the other arm going down. This type of recovery typically leads to increased inequality, as certain sectors or groups benefit disproportionately, while others are left behind.
Analysis:
Both statements describe different types of economic recovery following a recession. While Statement 1 correctly describes a V-shaped recovery, Statement 2 incorrectly describes a K-shaped recovery. A K-shaped recovery is characterized by divergence and disparity in the recovery of different sectors, not by quick and effective recovery.
Conclusion:
Therefore, the correct answer is option C) Both 1 and 2, as Statement 2 is incorrect.
Statement 1: A V-shaped recovery occurs when, following a recession, different parts of the economy recover at different rates, times, or magnitudes.
A V-shaped recovery is characterized by a sharp decline in economic activity followed by a quick and robust recovery. It is called a "V-shaped" recovery because the graph of economic performance resembles a V. In this type of recovery, the economy experiences a rapid decline but bounces back just as quickly. All sectors of the economy recover at a similar rate, leading to an overall quick recovery.
Statement 2: A K-shaped recovery is characterized by quick and effective recovery in measures of economic performance after an acute decline in the economy.
A K-shaped recovery is characterized by a divergence in the recovery of different sectors or segments of the economy. In this type of recovery, some parts of the economy recover quickly and effectively, while others may continue to struggle or decline. The graph of economic performance resembles a K, with one arm going up and the other arm going down. This type of recovery typically leads to increased inequality, as certain sectors or groups benefit disproportionately, while others are left behind.
Analysis:
Both statements describe different types of economic recovery following a recession. While Statement 1 correctly describes a V-shaped recovery, Statement 2 incorrectly describes a K-shaped recovery. A K-shaped recovery is characterized by divergence and disparity in the recovery of different sectors, not by quick and effective recovery.
Conclusion:
Therefore, the correct answer is option C) Both 1 and 2, as Statement 2 is incorrect.
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Consider the following statem A V-shaped recovery occurs when, following a recession, different parts of the economy recover at different rates, times, or magnitudes. A K-shaped recovery is characterised by quick and effective recovery in measures of economic performance after an acute decline in the economy.Which of the above statements is/are incorrect?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?
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Consider the following statem A V-shaped recovery occurs when, following a recession, different parts of the economy recover at different rates, times, or magnitudes. A K-shaped recovery is characterised by quick and effective recovery in measures of economic performance after an acute decline in the economy.Which of the above statements is/are incorrect?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statem A V-shaped recovery occurs when, following a recession, different parts of the economy recover at different rates, times, or magnitudes. A K-shaped recovery is characterised by quick and effective recovery in measures of economic performance after an acute decline in the economy.Which of the above statements is/are incorrect?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statem A V-shaped recovery occurs when, following a recession, different parts of the economy recover at different rates, times, or magnitudes. A K-shaped recovery is characterised by quick and effective recovery in measures of economic performance after an acute decline in the economy.Which of the above statements is/are incorrect?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?.
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