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The Complete Idiot's Guide to Economics, 2nd Edition by Tom Gorman

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Heads Up

Even economic forecasters have a fairly poor track record of forecasting turning points in the business cycle. However, economic indicators do provide a good picture of what’s going on in the economy. Even if the data are imperfect, they are by and large reliably and rigorously compiled by economists and analysts who are attempting to understand the economy in a scientific manner—that is, by examining data and seeking correlations and causal relationships.
In the Great Recession, the data clearly reflected the severity of job losses and unemployment, difficulties in the housing and credit markets, and sluggish retail and auto sales. Similarly, before the recession, the data clearly reflected the frothy heights reached during the expansion ...

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