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 Change in real GDP (N) -26.3 Duration of subsequent expansion (months) Peak date (beginning) August 1929 May 1937 February 1945 November 1948 Trough date (end) March 1933 June 1938 43 50 13 19.0 -3.3 80 October 1945 8 3.9 -11.6 37 October 1949 11 5.9 -0.5 45 July 1953 August 1957 April 1960 May 1954 April 1958 February 1961 10 5.5 -0.6 39 8 6.8 -0.7 24 10 6.7 2.6 106 December 1969 November 1970 11 5.9 0.2 36 March 1975 July 1980 November 1982 November 1973 16 8.5 7.6 -0.7 -0.2 58 January 1980 July 1981 July 1990 Harch 2001 12 16 9.7 -1.9 92 120 March 1991 November 2001 June 2009 7.5 -0.1 6.0 1.0 73 December 2007 18 9.6 -3.1 128 February 2020 777 Instruction: Enter your responses as whole numbers. Average duration: Minimum duration: Maximum duration:

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 Change in real GDP (N) -26.3 Duration of subsequent expansion (months) Peak date (beginning) August 1929 May 1937 February 1945 November 1948 Trough date (end) March 1933 June 1938 43 50 13 19.0 -3.3 80 October 1945 8 3.9 -11.6 37 October 1949 11 5.9 -0.5 45 July 1953 August 1957 April 1960 May 1954 April 1958 February 1961 10 5.5 -0.6 39 8 6.8 -0.7 24 10 6.7 2.6 106 December 1969 November 1970 11 5.9 0.2 36 March 1975 July 1980 November 1982 November 1973 16 8.5 7.6 -0.7 -0.2 58 January 1980 July 1981 July 1990 Harch 2001 12 16 9.7 -1.9 92 120 March 1991 November 2001 June 2009 7.5 -0.1 6.0 1.0 73 December 2007 18 9.6 -3.1 128 February 2020 777 Instruction: Enter your responses as whole numbers. Average duration: Minimum duration: Maximum duration:

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter14: Macroeconomic Policy: Tradeoffs, Expectations, Credibility, And Sources Of Business Cycles

Section: Chapter Questions

Problem 9E

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