If you were a member of the NBER business-cycle dating committee, would you declare that the U.S
economy is now in a recession? Why? Describe the major variables that you would look at to determine whether the economy is in a recession or not, and what features of the data you would look for.
Many answers are possible. You should discuss GDP and other major macroeconomic variables. You should note that you are looking for co-movement and persistence.
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Epsilon is a country whose unit of currency is the omega. New information leads people to expect that the omega will appreciate next year
To keep the foreign exchange value of the omega fairly steady, the Bank of Epsilon will ________ enough omegas on the foreign exchange market so that the ________ omegas will ________. A) buy; demand for; increase B) sell; supply of; increase C) buy; demand for; decrease D) buy; supply of; decrease
Which of the following topics is NOT a primary concern of macroeconomists?
A) fluctuations in the level of economic activity B) differences in standards of living across countries C) relative wages of skilled and unskilled workers D) unemployment