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You are sitting at dinner with your family while watching the news. A news reporter states, The National Bureau of Economic Research, which is a
You are sitting at dinner with your family while watching the news. A news reporter states, "The National Bureau of Economic Research, which is a government agency, has announced that the country is in a recession. In response to this update, the government has announced a change in its fiscal policy to prevent further damage to the economy". Because they know that you are enrolled in an economics class, your family members look at you and ask you the following: This seems serious, but what is a recession, and why is it bad? What is meant by fiscal policy? And how is this fiscal policy going to help the economy
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