Ranking Recessions and Negative Growth A recession is a significant decline in economic activity spread across the economy and lasting more than two consecutive quarters (about 6 months) It is normal expresses in a visible decline in real gross domestic product (GDP), real income, employment, industrial production, and wholesale/retail sales. Governments and countries can try several things to try and avoid a recession. Basically, the government and monetary authorities might try and increase consumer spending, investment, and exports, assuming that the recession is caused by a decline in aggregate spending. Across the world, countries are concerned about getting into a recession, given related job losses and general hardship for the people. In this connection, 1-Which of the following countries has not had a recession in 25 years? 1. Australia, 2. United States of America, 3. United Kingdom and 4. Germany. 2-Which of the following African countries is projected to post the most negative growth in 2016? 1. South Sudan, 2. Nigeria, 3. Equatorial Guinea and 4. Zimbabwe. ANSWERS 1-Since June of 1991, making it 25 years now Australia has not dealt with a single recession, an extraordinary difference from the rest of the western world that have variously suffered through multiple ups and downs in their economies over the past quarter century. Australia has become a master in boosting exports and reducing imports, thereby spurring growth even when the global economy is suffering. 2-South Sudan is the Africa country projected to drop the deepest into recession in 2016 as low oil prices have exposed and betrayed it and other crude oil dependent countries in Africa.
Posted: Oct 11th, 2016 @ 04:03:26 AM