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Q. Most of the times, it is the economic policy adopted by a government before recession, which determines what type of recession it is; a wrongly calibrated economic policies leading to L-shape recessions, the worst of all. Which is correct regarding L ?
Answer: L-shape recession is a recession that goes down and then stays there for a long period of time without a recovery
Notes: Option-2 is for U-shape recession Option-3 is for V-shape recession

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