Utilize the dynamic aggregate demand and aggregate supply model animations and videos in MyEconLab to analyze the macroeconomic factors that led to the 2007–2009 recession.
- How were GDP, inflation, and unemployment affected during the recession, and how does the model show this?
- What monetary policies and fiscal policies were implemented during the recession?
- How did the recession affect U.S. trade relations and the U.S. dollar exchange rate?
Comment on the analysis presented by your peers. Share your opinion on the fiscal and monetary policies identified by your peers, and use researched academic sources to support it.