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- What happens to each sector of the economy when recession occurs?Typically, when will the National Bureau of Economic Research (NBER) announce that the economy is in a recession? A. on the date that the recession begins B. typically, more than 10 years after the recession begins C. about six months before the recession begins D. a year or more after the recession has begunWhat components of GDP tend to decline significantly during recessions (particularly during the 2008 recession), and what GDP components rise during expansion?