"Official" recessions in the United States are declared by:
A) the Federal Reserve.
B) the U.S. department of the Treasury.
C) the National Bureau of Economic Research.
D) Congress.

Question

Quizplus · Accepted Answer

The National Bureau of Economic Research (NBER) is the organization responsible for declaring recessions in the United States. It uses a variety of economic indicators, such as GDP, employment, and income, to determine when a recession has occurred. The Federal Reserve and the U.S. department of the Treasury do not officially declare recessions, although they may take actions to try to mitigate their effects. Congress also does not have the authority to declare recessions.

"Official" Recessions in the United States Are Declared By