Question

ncio.wwnortm e Page(s) 444-445 14.1. Exactly what happened during the Great Recession and the Great Depression? Refer to the figure below and fill in the blanks to complete the following passage. Consumer 110 Sentiment Inder 100 Great Recession 8 3 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Drag word(s) below to fill in the blank(s) in the passage. Economists use the which is graphed above, as a measure of consumers' confidence in their financial future. One cause of the Great Recession was a fall in aggregate demand, and one cause of this decline in aggregate demand was in expected income. Looking at the graph, one can see that the index began falling in 2007 and fell during the recession. In 2012, the index pre- recession levels. an increase remained below S&P Index had returned to Consumer Sentiment Index a decline had exceeded a bit more House Purchase Price Index significantly

Answer 1

Economists use the Consumer Sentiment Index, which is graphed above, as a measure of consumers' confidence in their financial future.

One reason for great depression was a decline is aggregate demand which was caused by a decline in expected income of the people.

The index started falling from 2007 and during the period of great recession, started from the end of 2007 to the middle of 2009, the index fell significant.

However, in 2012, the index remained below pre-recession levels.