Business Slumps, 1929-2009 Percentage Dates (year recession began) 1929 1937 194

Question

Business Slumps, 1929-2009 Percentage Dates (year recession began) 1929 1937 1945 1948 1953 1957 1960 1969 1973 1980 1981 1990 2001 2007 Duration Peak (months)Decline in Output Unemployment Rate 43 26.7% -18.2 12.7 24.9% 19.0 5.2 13 6.1 7.5 7.1 6.1 9.0 7.8 10.8 7.8 6.3 10.0 10 2.6 3.7 10 0.6 -3.2 2.2 2.7 16 16 -0.3 18 5.1 a. Since 1940, the longest recession began in b. Since 1940, the shortest recession began in c. Since 1940, the recession that had the highest unemployment rate began in d. Since 1940, the recession that had the biggest decline in output began in

Explanation / Answer

Answer - According to the given information, we gave answer to the following question-

(a) Look at the table, since 1940 the longest recession began in 2007 which lasted 18 months.

(b) Since shortest recession began in 1980 which lasted only 6 months.

(c) Since, 1940 the recession that had highest unemployment rate began in 1981. The recession which was started in 1981 had highest rate of unemployment of 10.8 percent.

(d) Since 1940, the recession had biggest decline in output began in 1945. The recession caused highest decline in output by 12.7%.

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