As we read these days, many world economies are passing through recession at present. When can an economy be called ‘in recession’ ? When a decline occurs in almost all major economic activities. When the inflation reaches at a very high rate or becomes double digit inflation. When big financial scams and frauds start taking place.

• A. Only 1
• B. Only 2
• C. Only 3
• D. All the three
• E. None of these