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Chapter 1: Problem 20

Most of the recessions since World War II lasted (LO4) a) less than 6 months b) 6 to 12 months c) 12 to 18 months d) 18 to 24 months e) 24 to 36 months

Short Answer

Expert verified
Considering the historical data of recessions since World War II, the most common and typical recession duration has been between 6 to 18 months. Thus, the best answer choice is b) 6 to 12 months.

Step by step solution

01

Provide historical context

Provide context by sharing information about the average or most common durations of the recessions since World War II. Anecdotal data or an authoritative source would be sufficient for this exercise as it's a general knowledge question.
02

Compare the given options

Compare the historical context provided with the given options in the exercise. By considering the most common or average duration, the student must choose the answer that fits best within that range. Considering the historical data of recessions since World War II, the most common and typical recession duration has been between 6 to 18 months. The longest recession in this period lasted about 18 months, while the shortest lasted about 6 months. Taking the knowledge above, the best answer choice that fits the general statement of the typical duration of recessions since World War II is:
03

Answer

b) 6 to 12 months

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Most popular questions from this chapter

Which of these best describes the post-World War II recessions in the United States? ( \(\mathrm{LO} 4,5)\) a) They were all very mild, except for the 1981-82 recession. b) They were all caused by rising interest rates. c) None lasted more than one year. d) Each was accompanied by a decline in output of goods and services and an increase in unemployment.

Which statement is true? (LO2) a) Twenty-five million Americans were officially unemployed in \(1933 .\) b) Our economy expanded steadily from 1933 to \(1945 .\) c) Once the Great Depression began in 1929, our economy moved almost steadily downhill until the beginning of 1940 . d) None of the above.

Each of the following happened during the Great Recession except (LO6) a) a financial crisis b) the loss of more than 8 million jobs c) a sharp rise in the inflation rate d) a sharp decline in our output of goods and services

During World War II most of the people who got jobs in defense plants were who had experience building planes, tanks, and warships. (LO3) a) men, substantial b) men, no c) women, substantial d) women, no

Which of the following is the most accurate statement? (LO7) a) Like the 20 th century, the 21 st century will definitely be "the American Century." b) Although we have had some recent problems, our economy is strong enough to continue to support our present global military commitments indefinitely. c) The United States is a fading economic and military power, and will soon be overtaken by its rivals. d) It is far too soon to say whether or not the 21 st century will be another "American century."
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