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Since 1965, the U.S. economy has experienced how many economic contractions?

Question

Since 1965, the U.S. economy has experienced how many economic contractions?

check_circleAnswer
Step 1

Since 1965, the U.S. economy has witnessed seven economic contractions so far.

Step 2

Recession of 1969-70

This recessiomn was started in December 1969 and lasted till November 1970. This 11 month long recession was for a relatively smaller duration than the expansion that succeeded this. The government was trying to close the budget deficits of the Vietnam war and increased the interest rates.

Step 3

1973-75 Recession - There was a quadrupling of oil prices by The Organization of Petroleum Exporting Countrirs. There was al...

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