Wednesday, October 24, 2007

Are we already in a recession?

“When we look back next year at this time, it will be clear what caused the recession of 2007-08.” Click here to read David Wessel’s Three-Ingredient Recipe for Recession in the Wall Street Journal.

Extra Credit: How do economists define a “recession” in the United States? Defining a recession as a period in which output and employment are falling won't earn you any credit. Hint: Read Chapter 6 carefully. If you are the first student to send me an e-mail at with the answer, you will be rewarded with two extra credit Discussion Board points. Only two points extra credit per student can be earned in any given week from the blog questions.

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