Asked by
mackenleigh theriot
on Nov 16, 2024
Verified
Because economists understand what things change GDP, they can predict recessions with a fair amount of accuracy.
Predict Recessions
The process of forecasting a period of economic decline across the economy, typically recognized by a decrease in GDP in two successive quarters.
GDP
Gross Domestic Product, a measure of a country's economic performance, representing the total value of all goods and services produced over a specific time period.
- Understand the relationship between output, unemployment, and the business cycle.
- Acknowledge the reasons for and effects of economic fluctuations.
Verified Answer
BH
Learning Objectives
- Understand the relationship between output, unemployment, and the business cycle.
- Acknowledge the reasons for and effects of economic fluctuations.
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