Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Suppose that you were told that a mild recession was
declared in the US in 2001. Based upon the rule-of-
thumb behavior for declaring a recession and your
plot of the growth rates in part of A.3 of the Excel
Workbook, is this recession reflected in the graph that
you plotted? Explain the justification for why a
recession was declared.
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