In Determining the Beginning of Recessions, the NBER Business Cycle

question 108

Multiple Choice

In determining the beginning of recessions, the NBER Business Cycle Dating Committee looks for evidence of decline in:

• A)specific sectors of the economy.
• B)the rate of inflation.
• C)the entire economy.
• D)the stock market.

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Definitions:

Categorize

The act of arranging or classifying items, individuals, or ideas into specific groups or classes based on shared characteristics.

Stereotyping

The act of ascribing generalized attributes or behaviors to members of a particular group, often based on preconceptions.

Ignoring Information

The deliberate or unconscious avoidance of acknowledging facts, data, or feedback that may be relevant or important.

Perceptual Mistake

An error in the way sensory information is interpreted or understood, often leading to incorrect judgments or assumptions.