Question: Does the NBER define a recession as two successive quarters in which there is negative growth in GDP? Why or why not? What problem does

  1. Does the NBER define a recession as two successive quarters in which there is negative growth in GDP? Why or why not?
  2. What problem does the NBER face in using data from the Bureau of Economic Analysis of the U.S. Department of Commerce?
  3. Besides GDP, what important economic data does the NBER review for its reports?

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