The Economic Survey 2022–2023 included the term "financial contagion." Which of the following best sums up the term in the context given?
1
It relates to the detrimental effects on the economy as a whole of non-performing assets in the banking sector.
2
It is the transfer of unstable financial conditions from one market or nation to another.
3
A tool of discretionary fiscal policy to combat the recessionary gap in the economy caused by low output, high unemployment, and deflated prices.
4
More than one of the above
5
None of the above