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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 long has the average recession lasted since the end of World War II?

Chapter 19, Problem 6SCQ, According to Table 19.7, how long has the average recession lasted since the end of World War II? , example  1Chapter 19, Problem 6SCQ, According to Table 19.7, how long has the average recession lasted since the end of World War II? , example  2

To determine

The average length of a recession since the end of WWII.

Explanation

The average length of recession since 1945 can be found out by averaging the months of contraction since 1945.

Calculation:

Average length of recession is

=sumofnumberofmonthsofcontractionnumberof <

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