List I
- Boom
- Recession
- Depression
- Recovery
List II
- Unprecedentated level of under employment and unemployment, drastic fall in income, output and employment
- Steady rise in the general level of pricess, income, output and employment
- Gradual fall of income, output and employment with business activity in a low gear
- Business activity at high level with increasing income, output and employment at macro level
Correct Answers
1. Business activity at high level with increasing income, output and employment at macro level
2. Gradual fall of income, output and employment with business activity in a low gear
3. Unprecedentated level of under employment and unemployment, drastic fall in income, output and employment
4. Steady rise in the general level of pricess, income, output and employment