QUESTION 3(Figure: US Business Cycle Expansions and Contractions) From the data on averages for all cycles we can conclude that overtime:Business cycles data.pdfO The number of cycles during 1945-2020 exceeded the number of cycles during 1854-1919.The number of cycles during 1919-1945 exceeded the number of cycles during 1945-2020.The average duration of contractions during 1854-1919 was shorter than the average duration of contractions during1945-2020.The average duration of expansions during 1854-1919 was shorter than the average duration of expansions during1945-2020. Peak month (Peak Quarter)Trough month (Trough Quarter)ContractionExpansionCyclePeak toTrough frompreviousTroughPreviousPreak frompreviousTroughTrough tothis PeakPeakJune 1857 (1857Q2)October 1860 (1860Q3)April 1865 (1865Q1)June 1869 (1869Q2)October 1873 (187303)March 1882 (1882Q1)March 1887 (1887Q2)July 1890 (1890Q3)January 1893 (1893Q1)December 1895 (1895Q4)June 1899 (1899Q3)September 1902 (1902Q4)May 1907 (1907Q2)January 1910 (1910Q1)January 1913 (1913Q1)August 1918 (1918Q3)January 1920 (1920Q1)May 1923 (1923Q2)October 1926 (1926Q3)August 1929 (1929Q3)May 1937 (1937Q2)February 1945 (1945Q1)November 1948 (1948Q4)July 1953 (1953Q2)August 1957 (1957Q3)April 1960 (1960Q2)December 1969 (1969Q4)November 1973 (197304)January 1980 (1980Q1)July 1981 (1981Q3)July 1990 (1990Q3)March 2001 (200101)December 2007 (200704)February 2020 (201904)December 1854 (1854Q4)December 1858 (1858Q4)June 1861 (1861Q3)December 1867 (1868Q1)December 1870 (1870Q4)March 1879 (1879Q1)May 1885 (1885Q2)April 1888 (1888Q1)May 1891 (1891Q2)June 1894 (189402)June 1897 (1897Q2)December 1900 (190004)August 1904 (1904Q3)June 1908 (1908Q2)January 1912 (1911Q4)December 1914 (1914Q4)March 1919 (1919Q1)July 1921 (1921Q3)July 1924 (1924Q3)November 1927 (192704)March 1933 (1933Q1)June 1938 (1938Q2)October 1945 (1945Q4)October 1949 (1949Q4)May 1954 (1954Q2)April 1958 (1958Q2)February 1961 (1961Q1)November 1970 (1970Q4)March 1975 (1975Q1)July 1980 (1980Q3)November 1982 (198204)March 1991 (199101)November 2001 (200104)June 2009 (200902)1830488.223040324678541818365065349952383674101132235601027374017203730181836351824424223214439133346562419433223123536445167181022281714364013274041432164341350639380889311374845104555568.394749102434321110611711616365247586474161228189210010812012812818739181128146

Meaning of Recession and Expansion: The term recession refers to the state under the business…

(Figure: US Business Cycle Expansions and Contractions) From the data on averages for all cycles we can conclude that over time: Business cycles data.pdf The number of cycles during 1945-2020 exceeded the number of cycles during 1854-1919. O The number of cycles during 1919-1945 exceeded the number of cycles during 1945-2020. The average duration of contractions during 1854-1919 was shorter than the average duration of contractions during 1945-2020, The average duration of expansions during 1854-1919 was shorter than the average duration of expansions during 1945-2020.

(Figure: US Business Cycle Expansions and Contractions) From the data on averages for all cycles we can conclude that over time: Business cycles data.pdf The number of cycles during 1945-2020 exceeded the number of cycles during 1854-1919. O The number of cycles during 1919-1945 exceeded the number of cycles during 1945-2020. The average duration of contractions during 1854-1919 was shorter than the average duration of contractions during 1945-2020, The average duration of expansions during 1854-1919 was shorter than the average duration of expansions during 1945-2020.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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