Question

Cost-push inflation will reduce supply and lower real output and employment which will eventually generate an economic _____ quizlet

Answer 1

Cost-push inflation will reduce supply and lower real output and employment which will eventually generate an "economic recession".

What is economic recession?

The National Bureau of Economic Research (NBER) describes a recession as "a large fall in economic activity distributed across the economy, lasting more than a few months."

Some characteristics of economic recession are-

• Recessions are marked drops in economic activity that can endure for several months or even years.
• When a country's economy faces negative gross domestic product (GDP), growing unemployment, declining retail sales, and contraction income and manufacturing metrics over an extended period of time, experts declare a recession.
• Recessions are regarded as an inevitable component of the economic cycle, or the predictable rhythm of expansion and recession in a country's economy.
• The organisation bases its decision on a variety of variables, such as GDP, real income, employment, industrial production, and consumer spending.

To know more about economic recession, here

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