This BBC article paints a depressing picture of the US economy in late 2008. Read it, and answer the following questions:1) What was the US unemployment rate in Nov 08? Is this a historically good or bad figure? What is the trend in unemployment - up or down?
2) What has happened to the price of oil recently? Explain how the unemployment figures may have impacted the oil price.
3) What is a ‘recession’ ? Is the US now in a recession? According to US President Bush, what factors have caused thes economic conditions in the USA?
4) What macroeconomic objectives are mentioned in this article? Based on what you know, how can the US Government correct the problems that its economy faces?
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