The following data give the dates of successive turning points in U.S. economic activity and the corresponding levels of real GDP at the time. 
The economy experienced a recession that lasted from:
Definitions:
Marginal Product
The additional output that is produced by utilizing one more unit of a particular input, holding all other inputs constant.
Signaling Theory
A theoretical framework explaining how individuals and businesses convey information about themselves to differentiate from others, often in contexts like job markets or product quality.
Human-Capital View
A perspective that treats individuals' skills and knowledge as valuable assets that can improve productivity and contribute to economic growth.
Productivity
A measure of efficiency that calculates the amount of output produced per unit of input, such as labor or capital.
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