In late 2010 economists were debating whether the U.S. economy was in a recession. GDP seemed to
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In late 2010 economists were debating whether the U.S. economy was in a recession. GDP seemed to be rising, yet the unemployment rate was stuck at close to 10 percent. In thinking about the economic distress experienced during a recession, which is the most important: high unemployment or falling GDP? Defend your answer.
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The conventional definition of a recession is two consecutive quarters of declining a...View the full answer
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Related Book For
Principles of Macroeconomics
ISBN: 978-0134078809
12th edition
Authors: Karl E. Case, Ray C. Fair, Sharon E. Oster
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