The NBER Business Cycle Dating Committee stated that the U.S. economy entered a recession in December 2007.
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The NBER Business Cycle Dating Committee stated that the U.S. economy entered a recession in December 2007. The S&P/Case-Shiller Home Price Index (a widely used measure of home prices) shows an increase from January 2000 to April 2006. Since then, home prices decreased until May 2009. According to this information
a) are home prices a countercyclical, acyclical, or procyclical variable?
b) are home prices a leading, lagging, or coincident indicator?
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