This week the government finally announced our economy is in a Recession and actually has been in one since December of 2007.
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Post on your Blog the following:
- The difference between the economics terms Recession and Depression.
- Define the terms GDP (Gross Domesetic Product) and GNP (Gross National Product).
- Identify the beginning and ending dates of a previous recession in the 2nd half of the 20th century. Link to recession histories
- Explain how government policies can help end a recession.
- Were there any economic recessions prior to the Great Depression? Why or why not?
