Business Slumps, 1929-2009 Percentage Dates Duration Peak (year recession began)

Question

Business Slumps, 1929-2009 Percentage Dates Duration Peak (year recession began) (months) ecline in Output Unemployment Rate 1929 1937 1945 1948 1953 1957 1960 1969 1973 1980 1981 1990 2001 2007 -26.7% -18.2 -12.7 24.9% 19.0 5.2 7.9 6.1 7.5 7.1 6.1 9.0 7.8 10.8 7.8 6.3 10.0 43 13 10 2.6 -3.7 10 16 -3.2 2.2 2.7 16 -0.3 5.1 18 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

a. 2007.

This recession lasted for 18 months.

b. 1980.

This recession lasted for 6 months.

c. 1981

With the peak unemployment of 10.8%

d. 1945

With the highest decline of 12.7%.

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