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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

According to Table 19.7, how often have recessions occurred since the end of World War II (1945)?

Chapter 19, Problem 5SCQ, According to Table 19.7, how often have recessions occurred since the end of World War II (1945)? , example  1Chapter 19, Problem 5SCQ, According to Table 19.7, how often have recessions occurred since the end of World War II (1945)? , example  2

To determine

The number of recessions since the end of World War II (1945).

Explanation

Recession refers to the slowing down of economic activity characterized by falling output, prices and employment. A recession is preceded by boom and followed by recovery.

It is a part of the business cycle: Boom ( Recession( Recovery( Boom.

Recession is the phase that starts with peak (highest point) and ends at the trough (lowest point) in the economy...

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