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Economics of Macro Issues 7th Edition by Roger LeRoy Miller,Daniel Benjamin
Edition 7ISBN: 978-0134018959Economics of Macro Issues 7th Edition by Roger LeRoy Miller,Daniel Benjamin
Edition 7ISBN: 978-0134018959 Exercise 4
Return to the data you examined for question. Some people have called the recession of 2007-2009 the "Great Recession." Based on the data you think most relevant, is this latest recession worthy of being singled out as "Great"? Explain.
Question
Examine the data from the last six recessions. (Good sources for data are www.nber.org/cycles/recessions.html, www.bea.gov, and www.globalindicators.org.) Rank them on the basis of both duration and severity. The first is easy; the second is more difficult: Is it possible that some people-either politicians or other citizens-might disagree about how to measure the severity of a particular recession? How would you measure it?
Question
Examine the data from the last six recessions. (Good sources for data are www.nber.org/cycles/recessions.html, www.bea.gov, and www.globalindicators.org.) Rank them on the basis of both duration and severity. The first is easy; the second is more difficult: Is it possible that some people-either politicians or other citizens-might disagree about how to measure the severity of a particular recession? How would you measure it?
Explanation
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A recession is defined a substantial fai...
Economics of Macro Issues 7th Edition by Roger LeRoy Miller,Daniel Benjamin
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