The answer is true. Recessions are important to economists because many people lose their jobs and struggle to maintain their standard of living during these times.
Even individuals who do not lose work may face cuts in hours or salary, which Recessions their level of life. It is a substantial drop in economic activity that lasts for more than a few months and must be geographically widespread. A lack of confidence in the economists and the likelihood of a recession might be indicated by an inverted yield curve and a lower long-term yield. Since 1970, every U.S. recession has been predicted by an inverted yield curve.
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