In the first quarter of the year, Real GDP was $400 billion; in the second quarter it

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In the first quarter of the year, Real GDP was $400 billion; in the second quarter it was $398 billion; in the third quarter it was $399 billion; and in the fourth quarter it was $395 billion. Has there been a recession? Explain your answer.

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Economics

ISBN: 978-1285738321

12th edition

Authors: Roger A. Arnold

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Question Posted: Feb 12, 2016 07:11 AM

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In the first quarter of the year, Real GDP was $400 billion; in the second quarter it

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The standard definition of recession is that recessions o...View the full answer

Economics

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