Examlex
Which of the following is an example of government failure?
Depression
A severe and prolonged downturn in economic activity, characterized by significant decline in gross domestic product, high unemployment, reduced consumer spending, and deflation.
Inflation
The rate of increase in the average cost of goods and services, which results in a decrease in the value of money.
President Eisenhower
Dwight D. Eisenhower, the 34th President of the United States, who served from 1953 to 1961 and was known for his role in ending the Korean War and promoting infrastructure development.
Recessions
A season of ephemeral economic retreat, observed through decreased levels of commerce and industrial production, commonly distinguished by a fall in GDP in consecutive quarters.
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