Focus on Economic Data: Gross Domestic Product - November 2001
Source: Council for Economic Education (EconEdLink) | Type: Lesson
In March of 2001, a recession began. The current case examines the changes in real GDP in the most recent quarter and how those changes reflect the current recessionary conditions. The definition of a recession is a "significant decline in total output, income, employment, and trade, usually lasting from six months to a year, and marked by widespread contractions in many sectors of the economy."
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