How did the recession of 2007-2009 compare with other recessions since the Great Depression in terms of length? (LO1 - 3)

Question

Want to see more full solutions like this?

Answer 1

Textbook Question

Chapter 1, Problem 1DQ

How did the recession of 2007-2009 compare with other recessions since the Great Depression in terms of length? (LO1-3)

Expert Solution & Answer

Summary Introduction

Introduction:

Concept name: Recession

Recession basically refers to a phase in which the countryâ€™s growth tends to decline drastically.

Recession is generally for short term. The GDP starts to fall, aligned with production decline and low consumption

Answer to Problem 1DQ

The recession of 2007-2009 was the most profound and the longest recession of all times. It continued for 18 months, which was almost twice as long as that of the previous recession of 1930 (9.5 months).

Explanation of Solution

The U.S economy faced a recession for approx. 18 months from 2007-2009. It is recorded to be the longest and the most profound recession till now. The recession is divided into two phases. The first phase began from December 2007 and ended in the first half of 2008; in this particular phase, the recession was not deep and did not affect the GDP (Gross domestic product). The recession started to deepen from September 2008 to March 2009.

The economy continued to decline slightly in mid-2009, before the expansion. This recession featured the highest decline in production, consumption by the consumers and investment and increase in unemployment.

One unique characteristic of this recession was that it was severely affected by the financial market.

U.S. financial conditions started to decline in August 2007 and became even worse in 2008.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Students have asked these similar questions

32. Choose the characteristics of the recession phase. (Check all that apply) Unemployment begins to rise Businesses lower production of goods and services Profits are high GDP growth slows for two or more quarters The economy slows down

Based on the following information, what is the standard deviation of returns? State of Economy Probability of Stateof Economy Rate of Return ifState Occurs Recession .28 − .096 Normal .41 .111 Boom .31 .221

8) A market decline of 23% on a day when there is no significant macroeconomic event ______ consistent with the EMH because ________. A) would be; it was a clear response to macroeconomic news B) would not be; it was not a clear response to macroeconomic news C) would not be; it was a clear response to macroeconomic news D) would be; it was not a clear response to macroeconomic news Please justify your answer.

Answer 2

Textbook Question

Chapter 1, Problem 1DQ

How did the recession of 2007-2009 compare with other recessions since the Great Depression in terms of length? (LO1-3)

Expert Solution & Answer

Summary Introduction

Introduction:

Concept name: Recession

Recession basically refers to a phase in which the countryâ€™s growth tends to decline drastically.

Recession is generally for short term. The GDP starts to fall, aligned with production decline and low consumption

Answer to Problem 1DQ

The recession of 2007-2009 was the most profound and the longest recession of all times. It continued for 18 months, which was almost twice as long as that of the previous recession of 1930 (9.5 months).

Explanation of Solution

The U.S economy faced a recession for approx. 18 months from 2007-2009. It is recorded to be the longest and the most profound recession till now. The recession is divided into two phases. The first phase began from December 2007 and ended in the first half of 2008; in this particular phase, the recession was not deep and did not affect the GDP (Gross domestic product). The recession started to deepen from September 2008 to March 2009.

The economy continued to decline slightly in mid-2009, before the expansion. This recession featured the highest decline in production, consumption by the consumers and investment and increase in unemployment.

One unique characteristic of this recession was that it was severely affected by the financial market.

U.S. financial conditions started to decline in August 2007 and became even worse in 2008.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Textbook Question

Chapter 1, Problem 1DQ

How did the recession of 2007-2009 compare with other recessions since the Great Depression in terms of length? (LO1-3)

Expert Solution & Answer

Summary Introduction

Introduction:

Concept name: Recession

Recession basically refers to a phase in which the countryâ€™s growth tends to decline drastically.

Recession is generally for short term. The GDP starts to fall, aligned with production decline and low consumption

Answer to Problem 1DQ

The recession of 2007-2009 was the most profound and the longest recession of all times. It continued for 18 months, which was almost twice as long as that of the previous recession of 1930 (9.5 months).

Explanation of Solution

The U.S economy faced a recession for approx. 18 months from 2007-2009. It is recorded to be the longest and the most profound recession till now. The recession is divided into two phases. The first phase began from December 2007 and ended in the first half of 2008; in this particular phase, the recession was not deep and did not affect the GDP (Gross domestic product). The recession started to deepen from September 2008 to March 2009.

The economy continued to decline slightly in mid-2009, before the expansion. This recession featured the highest decline in production, consumption by the consumers and investment and increase in unemployment.

One unique characteristic of this recession was that it was severely affected by the financial market.

U.S. financial conditions started to decline in August 2007 and became even worse in 2008.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Textbook Question

Chapter 1, Problem 1DQ

How did the recession of 2007-2009 compare with other recessions since the Great Depression in terms of length? (LO1-3)

Expert Solution & Answer

Summary Introduction

Introduction:

Concept name: Recession

Recession basically refers to a phase in which the countryâ€™s growth tends to decline drastically.

Recession is generally for short term. The GDP starts to fall, aligned with production decline and low consumption

Answer to Problem 1DQ

The recession of 2007-2009 was the most profound and the longest recession of all times. It continued for 18 months, which was almost twice as long as that of the previous recession of 1930 (9.5 months).

Explanation of Solution

The U.S economy faced a recession for approx. 18 months from 2007-2009. It is recorded to be the longest and the most profound recession till now. The recession is divided into two phases. The first phase began from December 2007 and ended in the first half of 2008; in this particular phase, the recession was not deep and did not affect the GDP (Gross domestic product). The recession started to deepen from September 2008 to March 2009.

The economy continued to decline slightly in mid-2009, before the expansion. This recession featured the highest decline in production, consumption by the consumers and investment and increase in unemployment.

One unique characteristic of this recession was that it was severely affected by the financial market.

U.S. financial conditions started to decline in August 2007 and became even worse in 2008.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Textbook Question

Answer 6

Textbook Question

Answer 7

Expert Solution & Answer

Summary Introduction

Introduction:

Concept name: Recession

Recession basically refers to a phase in which the countryâ€™s growth tends to decline drastically.

Recession is generally for short term. The GDP starts to fall, aligned with production decline and low consumption

Answer to Problem 1DQ

The recession of 2007-2009 was the most profound and the longest recession of all times. It continued for 18 months, which was almost twice as long as that of the previous recession of 1930 (9.5 months).

Explanation of Solution

The U.S economy faced a recession for approx. 18 months from 2007-2009. It is recorded to be the longest and the most profound recession till now. The recession is divided into two phases. The first phase began from December 2007 and ended in the first half of 2008; in this particular phase, the recession was not deep and did not affect the GDP (Gross domestic product). The recession started to deepen from September 2008 to March 2009.

The economy continued to decline slightly in mid-2009, before the expansion. This recession featured the highest decline in production, consumption by the consumers and investment and increase in unemployment.

One unique characteristic of this recession was that it was severely affected by the financial market.

U.S. financial conditions started to decline in August 2007 and became even worse in 2008.

Answer 8

Expert Solution & Answer

Summary Introduction

Introduction:

Concept name: Recession

Recession basically refers to a phase in which the countryâ€™s growth tends to decline drastically.

Recession is generally for short term. The GDP starts to fall, aligned with production decline and low consumption

Answer to Problem 1DQ

The recession of 2007-2009 was the most profound and the longest recession of all times. It continued for 18 months, which was almost twice as long as that of the previous recession of 1930 (9.5 months).

Explanation of Solution

The U.S economy faced a recession for approx. 18 months from 2007-2009. It is recorded to be the longest and the most profound recession till now. The recession is divided into two phases. The first phase began from December 2007 and ended in the first half of 2008; in this particular phase, the recession was not deep and did not affect the GDP (Gross domestic product). The recession started to deepen from September 2008 to March 2009.

The economy continued to decline slightly in mid-2009, before the expansion. This recession featured the highest decline in production, consumption by the consumers and investment and increase in unemployment.

One unique characteristic of this recession was that it was severely affected by the financial market.

U.S. financial conditions started to decline in August 2007 and became even worse in 2008.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Summary Introduction

Introduction:

Concept name: Recession

Recession basically refers to a phase in which the countryâ€™s growth tends to decline drastically.

Recession is generally for short term. The GDP starts to fall, aligned with production decline and low consumption

Answer 12

Answer to Problem 1DQ

The recession of 2007-2009 was the most profound and the longest recession of all times. It continued for 18 months, which was almost twice as long as that of the previous recession of 1930 (9.5 months).

Answer 13

Explanation of Solution

The U.S economy faced a recession for approx. 18 months from 2007-2009. It is recorded to be the longest and the most profound recession till now. The recession is divided into two phases. The first phase began from December 2007 and ended in the first half of 2008; in this particular phase, the recession was not deep and did not affect the GDP (Gross domestic product). The recession started to deepen from September 2008 to March 2009.

The economy continued to decline slightly in mid-2009, before the expansion. This recession featured the highest decline in production, consumption by the consumers and investment and increase in unemployment.

One unique characteristic of this recession was that it was severely affected by the financial market.

U.S. financial conditions started to decline in August 2007 and became even worse in 2008.

Answer 14

Ch. 1 - How did the recession of 2007-2009 compare with...Ch. 1 - Prob. 2DQ Ch. 1 - Prob. 3DQ Ch. 1 - Prob. 4DQ Ch. 1 - Prob. 5DQ Ch. 1 - Prob. 6DQ Ch. 1 - Prob. 7DQ Ch. 1 - Prob. 8DQ Ch. 1 - Prob. 9DQ Ch. 1 - When does insider trading occur? What government...

How did the recession of 2007-2009 compare with other recessions since the Great Depression in terms of length? (LO1 - 3)

Concept explainers

Answer to Problem 1DQ

Explanation of Solution

Want to see more full solutions like this?

Chapter 1 Solutions

Additional Business Textbook Solutions