Description
Read this article from Bloomberg News (brief-opinion1). Recently there has been a debate in the US involving the issue of whether GDP going down 2 quarters in a row (negative growth for 2 quarters) is a recession or not. First, in your opinion, does 2 quarters of negative GDP indicate a recession to you or not? Be sure to explain why you think it does or does not. Second, regardless of your view of GDP, do you think a recession should be determined by a rule (like 2 quarters of negative GDP growth or something similar) or should it be determined by a group of economists that vote on it or something else? Basically in your view, what is the best way to determine whether the economy is in recession or not? There is no correct or incorrect opinion. Be sure to use at least 2 course concepts to support your opinion in your answer. Your answer must be provided in the text box below and be between 200-500 words. And answer the HW1 question.
Brief opinion is graded on a 5-point scale.
5 Points: Answer between 200-500 words addressing the questions asked and accurately using at least 2 course concepts to support opinion. Turned in before due date and time.
3 Points: Answer between 200-500 words addressing the questions asked but makes some incorrect statements about course concepts. Turned in before due date and time.
