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Which of the following statements is incorrect? Select one: a. In a recession, normal goods manufacturers are expected to have reductions in the demand. b. In a recession, inferior goods manufacturers are not expected to have reductions in the demand. c. All producers are going to be negatively affected in a recession. d. None of the above is correct.

Answer :

the answer of the given question is option d which is none of the above is correct.

When there is a general fall in economic activity, there is a recession, which is a contraction of the business cycle in economics. Recessions typically start when expenditure falls dramatically across the board (an adverse demand shock). Several things could cause this, including a financial crisis, a shock to international commerce, a bad supply shock, the deflation of an economic bubble, or a significant anthropogenic or natural disaster (e.g. a pandemic).

Recessions are described as "a considerable fall in economic activity spread across the market, lasting more than a few months, generally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales" in the United States.

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