Who officially determines whether the economy is in a recession or expansion?
A)The president of the United States
B)The U.S. Congress
C)The Federal Reserve Board of Governors
D)The National Bureau of Economic Research

Question

Quizplus · Accepted Answer

The National Bureau of Economic Research (NBER) is the organization responsible for officially determining whether the economy is in a recession or expansion. The NBER analyzes a variety of economic data to determine the state of the business cycle. The president, Congress, and the Federal Reserve may all have opinions on the state of the economy, but the NBER's determination is considered to be the official declaration.

Who Officially Determines Whether the Economy Is in a Recession