**Table: U.S. Recession Data**| Dates | Duration (Months) | Percentage Decline in Real GDP | Peak Unemployment Rate ||------------------------|-------------------|-------------------------------|------------------------|| Aug. 1929–Mar. 1933 | 43 | 35.4% | 24.9% || May 1937–June 1938 | 13 | 9.4 | 20.0 || Feb. 1945–Oct. 1945 | 8 | 23.8 | 4.3 || Nov. 1948–Oct. 1949 | 11 | 9.9 | 7.9 || July 1953–May 1954 | 10 | 10.0 | 6.1 || Aug. 1957–Apr. 1958 | 8 | 14.3 | 7.5 || Apr. 1960–Feb. 1961 | 10 | 7.2 | 7.1 || Dec. 1969–Nov. 1970 | 11 | 8.1 | 6.1 || Nov. 1973–Mar. 1975 | 16 | 14.7 | 9.0 || Jan. 1980–July 1980 | 6 | 8.7 | 7.6 || July 1981–Nov. 1982 | 16 | 12.3 | 10.8 || July 1990–Feb. 1991 | 8 | 2.2 | 6.5 || Mar. 2001–Nov. 2001 | 8 | 0.6 | 5.6 || Dec. 2007–June 2009 | 18 | 4.1 | 10.0 || Mar. 2020–May 2020 | 3 | 32.0 | 14.7 |**Instructions:** Enter your response as a percent rounded to one decimal

Recession is a phenomenon where an economy faces declining gdp, higher Unemployment and slowdown.

Refer to the table below. Dates Aug. 1929-Mar. 1933 May 1937-June 1938 Feb. 1945-Oct. 1945 Nov. 1948-Oct. 1949 July 1953-May 1954 Aug. 1957-Apr. 1958 Apr. 1960-Feb. 1961 Dec. 1969-Nov. 1970 Nov. 1973-Mar. 1975 Jan. 1980-July 1980 July 1981-Nov. 1982 July 1990-Feb. 1991 Mar. 2001-Nov. 2001 Dec. 2007-June 2009 Mar. 2020-May 2020 percent Duration (Months) b. What was 43 13 8 11 10 8 10 11 16 6 16 8 8 18 3 Instructions: Enter your response as a percent rounded to one decimal place. a. What was the largest percentage GDP decline in a U.S. recession post-Great Depression (1929-1939)? Peak Percentage Decline in Real Unemployment GDP Rate 35.4% 24.9% 9.4 20.0 23.8 4.3 9.9 7.9 10.0 6.1 14.3 7.5 7.2 7.1 8.1 6.1 14.7 9.0 8.7 7.6 12.3 10.8 2.2 6.5 0.6 5.6 4.1 10.0 32.0 14.7 (i) The longest post-Great Depression recession? O Dec. 2007-June 2009 O Jan. 1980-July 1980 O July 1981-Nov. 1982 O Nov. 1973-Mar. 1975 (ii) The recession that had the smallest percentage decline in real GDP post-Great Depression? O Mar. 2001-Nov. 2001 O Dec. 2007-June 2009 O Jan. 1980-July 1980 O Nov. 1973-Mar. 1975

Refer to the table below. Dates Aug. 1929-Mar. 1933 May 1937-June 1938 Feb. 1945-Oct. 1945 Nov. 1948-Oct. 1949 July 1953-May 1954 Aug. 1957-Apr. 1958 Apr. 1960-Feb. 1961 Dec. 1969-Nov. 1970 Nov. 1973-Mar. 1975 Jan. 1980-July 1980 July 1981-Nov. 1982 July 1990-Feb. 1991 Mar. 2001-Nov. 2001 Dec. 2007-June 2009 Mar. 2020-May 2020 percent Duration (Months) b. What was 43 13 8 11 10 8 10 11 16 6 16 8 8 18 3 Instructions: Enter your response as a percent rounded to one decimal place. a. What was the largest percentage GDP decline in a U.S. recession post-Great Depression (1929-1939)? Peak Percentage Decline in Real Unemployment GDP Rate 35.4% 24.9% 9.4 20.0 23.8 4.3 9.9 7.9 10.0 6.1 14.3 7.5 7.2 7.1 8.1 6.1 14.7 9.0 8.7 7.6 12.3 10.8 2.2 6.5 0.6 5.6 4.1 10.0 32.0 14.7 (i) The longest post-Great Depression recession? O Dec. 2007-June 2009 O Jan. 1980-July 1980 O July 1981-Nov. 1982 O Nov. 1973-Mar. 1975 (ii) The recession that had the smallest percentage decline in real GDP post-Great Depression? O Mar. 2001-Nov. 2001 O Dec. 2007-June 2009 O Jan. 1980-July 1980 O Nov. 1973-Mar. 1975

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

**Table: U.S. Recession Data**

| Dates | Duration (Months) | Percentage Decline in Real GDP | Peak Unemployment Rate |
|------------------------|-------------------|-------------------------------|------------------------|
| Aug. 1929–Mar. 1933 | 43 | 35.4% | 24.9% |
| May 1937–June 1938 | 13 | 9.4 | 20.0 |
| Feb. 1945–Oct. 1945 | 8 | 23.8 | 4.3 |
| Nov. 1948–Oct. 1949 | 11 | 9.9 | 7.9 |
| July 1953–May 1954 | 10 | 10.0 | 6.1 |
| Aug. 1957–Apr. 1958 | 8 | 14.3 | 7.5 |
| Apr. 1960–Feb. 1961 | 10 | 7.2 | 7.1 |
| Dec. 1969–Nov. 1970 | 11 | 8.1 | 6.1 |
| Nov. 1973–Mar. 1975 | 16 | 14.7 | 9.0 |
| Jan. 1980–July 1980 | 6 | 8.7 | 7.6 |
| July 1981–Nov. 1982 | 16 | 12.3 | 10.8 |
| July 1990–Feb. 1991 | 8 | 2.2 | 6.5 |
| Mar. 2001–Nov. 2001 | 8 | 0.6 | 5.6 |
| Dec. 2007–June 2009 | 18 | 4.1 | 10.0 |
| Mar. 2020–May 2020 | 3 | 32.0 | 14.7 |

**Instructions:** Enter your response as a percent rounded to one decimal

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