Hello, I need help with the following macroeconomics questions. Thank you in advance!It states to answer the followint in your own words and using the graph attached below:1. How many recessions did the US economy experience between 1929 and 20202. What were the four longest recessions between 1929 and 2019? (Notice I don’t askfor 2020 since it’s not available in the textbook when it ended).3. What were the three deepest recessions between 1929 and 2019? That is, duringwhich three recessions was the decline in real GDP biggest from peak to through? Starting MonthAugust 1929May 1937February 1945November 1948July 1953August 1957April 1960December 1969November 1973January 1980July 1981July 1990March 2001December 2007February 2020Ending MonthMarch 1933June 1938October 1945October 1949May 1954April 1958February 1961November 1970March 1975July 1980November 1982March 1991November 2001June 2009ΝΑDuration (months)43138111081011166168818ΝΑDecline in Real GDPfrom Peak to Trough26.3%3.3%12.7%11.5%1.9%3.0%0.3%0.2%3.1%2.2%2.5%1.3%0.3%4.3%ΝΑ

Business cycle shows a series of real GDP fluctuations in an economy as it expands. It goes through…

Answered: 1. How many recessions did the US…

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

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Hello, I need help with the following macroeconomics questions. Thank you in advance!

It states to answer the followint in your own words and using the graph attached below:

1. How many recessions did the US economy experience between 1929 and 2020

2. What were the four longest recessions between 1929 and 2019? (Notice I don’t askfor 2020 since it’s not available in the textbook when it ended).

3. What were the three deepest recessions between 1929 and 2019? That is, duringwhich three recessions was the decline in real GDP biggest from peak to through?

Starting Month
August 1929
May 1937
February 1945
November 1948
July 1953
August 1957
April 1960
December 1969
November 1973
January 1980
July 1981
July 1990
March 2001
December 2007
February 2020
Ending Month
March 1933
June 1938
October 1945
October 1949
May 1954
April 1958
February 1961
November 1970
March 1975
July 1980
November 1982
March 1991
November 2001
June 2009
ΝΑ
Duration (months)
43
13
8
11
10
8
10
11
16
6
16
8
8
18
ΝΑ
Decline in Real GDP
from Peak to Trough
26.3%
3.3%
12.7%1
1.5%
1.9%
3.0%
0.3%
0.2%
3.1%
2.2%
2.5%
1.3%
0.3%
4.3%
ΝΑ

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