Question

take two recessions and two recoveries that you have experienced in your lifetime and explain what you believe made them recessions and recoveries - do this according to your viewpoint.   ?

Answer 1

Recessions and recoveries-

1.2001 recession-The reason for this recession was the Y2K scare which created boom and bust in dotcom industries.Further,the 9/11 attack aggravated the recession.However this recession lasted on for 8 months.The war in Afghanistan was also a cause of the end of recession.

Recovery-The recession end by fiscal injections by Bush administratio.Taxes were cut by the implementation of Economic Growth and Tax Relief Reconciliation Act of 2001.

2008 recession-This recession was so severe that it is compared to the great depression of 1929.It lasted for around 18 months.The cause of the recession was the subprime mortgage crisis and the housing bubble burst.

The recession ended and recovery hit in 2009 due to Obama's stimulus package.Industrial production resumed growth and by the end of 2009 the American economy reached its pre recession peak.