Chad, a sales executive at Ochre Inc., was laid off after Ochre faced severe financial losses in the second and third quarters of 2014. The country witnessed an economic decline in the same year. As a result, Chad is now struggling to make ends meet with his limited savings. His debt has considerably increased, and he is finding it difficult to pay his household bills. This situation is an example of _____.
A) inflation
B) an appreciation period
C) a recession
D) disintermediation
E) a boom period
Correct Answer:
Verified
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