In September 2010, the NBER's Business Cycle Dating Committee decided that the recession that began in December of 2007 had ended and that the lowest point of production was July of 2009. The NBER does not use a popular definition of recession-two quarters of falling GDP-but looks at a variety of monthly statistics to date business cycles. In business cycle terminology, what does July 2009 mark?

Question

Quizplus · Accepted Answer

July 2009 marks the trough of the cycle, indicating the lowest point of economic activity before the economy begins to expand again.

In September 2010, the NBER's Business Cycle Dating Committee Decided