1.By mid-2009, many economists believed that the recession had ended and the U.S. economy had entered an economic expansion. Define recession and expansion. Go to www.bea.gov and look at the growth of GDP during 2009. In addition, go to www.bls.gov and look at payroll employment and the unemployment rate. Had the recession ended and had the U.S.

economy entered an expansion? What do you see in the data?

Can you tell by reading newspapers or watching cable news whether the country had entered an expansion? Explain.