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    GDP and the Recession

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    Briefly describe how the Gross Domestic Product (GDP) affected the recession in the United States during the late President Bush and early President Obama years.

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    By definition, a recession occurs when GDP falls for two consecutive quarters. It is useful to understand that gross domestic product is the value of all final goods and services produced in an economy in a given year (these goods are not transformed into other goods and ...

    Solution Summary

    Gross domestic product (GDP) can directly influence the rate at which a country experiences a recession. There are several causal factors affecting this relationship, including inflation and prices.