Log out Go to App
Go to App

Learning Materials

Features

Discover

Chapter 19: Q. 7 (page 470)

According to Table 19.7, how long has the average expansion lasted since the end of World War II?

Short Answer

Expert verified

The average expansion lasted for more than 5years since the end of World War II.

Step by step solution

01

Step 1. Given

Table 19.7lists the pattern of recessions and expansions in the U.S. economy since 1900.

The table lists the "Months of Expansion".

02

Step 2. Explanation

We must take an average of the months of expansion since the end of World War II i.e., from 1949to 2001.

Average expansionlocalid="1646678877052" =45+39+24+106+36+58+12+92+120+7310=60510=60.5months or more than 5years.

Unlock Step-by-Step Solutions & Ace Your Exams!

  • Full Textbook Solutions

    Get detailed explanations and key concepts

  • Unlimited Al creation

    Al flashcards, explanations, exams and more...

  • Ads-free access

    To over 500 millions flashcards

  • Money-back guarantee

    We refund you if you fail your exam.

Start your free trial

Over 30 million students worldwide already upgrade their learning with Vaia!

One App. One Place for Learning.

All the tools & learning materials you need for study success - in one app.

Get started for free

Most popular questions from this chapter

How do you convert a series of nominal economic data over time to real terms?

Ethiopia has a GDP of \(8 billion (measured in U.S. dollars) and a population of 55 million. Costa Rica has a GDP of \)9 billion (measured in U.S. dollars) and a population of 4 million. Calculate the per capita GDP for each country and identify which one is higher.

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

Using data from Table 19.5 how much of the nominal GDP growth from 1980 to 1990 was real GDP and how much was inflation?

Cross country comparisons of GDP per capita typically use purchasing power parity equivalent exchange rates, which are a measure of the long run equilibrium value of an exchange rate. In fact, we used PPP equivalent exchange rates in this module. Why could using market exchange rates, which sometimes change dramatically in a short period of time, be misleading?
See all solutions

What do you think about this solution?

We value your feedback to improve our textbook solutions.

Study anywhere. Anytime. Across all devices.

Sign-up for free