21Using the table below, find the average duration, the minimum duration, and the maximum duration of expansions inthe United States since 1929.RecessionDuration(months)HighestUnemploymentRate (%)24.9Duration ofsubsequentexpansion(months)50Peak dateTrough date(end)Mar. 1933Change in realGDP (%)(beginning)Aug. 1929May 1937Feb. 194500:58:2743--28.8June 19381319.0-5.580SkippedOct. 19458.3.9-8.537Nov. 1948Oct. 1949115.9-1.445July 1953Aug. 1957Apr. 1960Dec. 1969May 1954Apr. 1958Feb. 1961105.5-1.2398.6.8-1.724106.72.3106Nov. 1970115.90.136Nov. 1973Mar. 1975168.5-1.15812July 1980Nov. 1982Jan. 19806.7.6-0.3-2.192July 1981July 1990Mar. 2001169.7Mar. 19918°7.5-0.9120Nov. 200185.80.873Dec. 2007June 20091810.0-4.1naInstruction: Enter your responses as whole numbers.meAverage duration:Minimum duration:Maximum duration:Are expansions getting longer or shorter on average over time? (Click to select)Is there any tendency for long expansions to be followed by long recessions? (Click to select) +21 of 25Next >McGrawHill< PrevWPI56APR

Recession is a period during which growth in real GDP is lower than the average. During a recession,…

Instruction: Enter your responses as whole numbers. Average duration: Minimum duration: Maximum duration: Are expansions getting longer or shorter on average over time? (Click to select) + Is there any tendency for long expansions to be followed by long recessions? ((Click to select) +

Instruction: Enter your responses as whole numbers. Average duration: Minimum duration: Maximum duration: Are expansions getting longer or shorter on average over time? (Click to select) + Is there any tendency for long expansions to be followed by long recessions? ((Click to select) +

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

21
Using the table below, find the average duration, the minimum duration, and the maximum duration of expansions in
the United States since 1929.
Recession
Duration
(months)
Highest
Unemployment
Rate (%)
24.9
Duration of
subsequent
expansion
(months)
50
Peak date
Trough date
(end)
Mar. 1933
Change in real
GDP (%)
(beginning)
Aug. 1929
May 1937
Feb. 1945
00:58:27
43
--28.8
June 1938
13
19.0
-5.5
80
Skipped
Oct. 1945
8.
3.9
-8.5
37
Nov. 1948
Oct. 1949
11
5.9
-1.4
45
July 1953
Aug. 1957
Apr. 1960
Dec. 1969
May 1954
Apr. 1958
Feb. 1961
10
5.5
-1.2
39
8.
6.8
-1.7
24
10
6.7
2.3
106
Nov. 1970
11
5.9
0.1
36
Nov. 1973
Mar. 1975
16
8.5
-1.1
58
12
July 1980
Nov. 1982
Jan. 1980
6.
7.6
-0.3
-2.1
92
July 1981
July 1990
Mar. 2001
16
9.7
Mar. 1991
8°
7.5
-0.9
120
Nov. 2001
8
5.8
0.8
73
Dec. 2007
June 2009
18
10.0
-4.1
na
Instruction: Enter your responses as whole numbers.
me
Average duration:
Minimum duration:
Maximum duration:
Are expansions getting longer or shorter on average over time? (Click to select)
Is there any tendency for long expansions to be followed by long recessions? (Click to select) +
21 of 25
Next >
Mc
Graw
Hill
< Prev
W
PI
56
APR

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