According to Table 8.1 (a) What was the largest percentage GDP decline since the Great Depression? (b)
Question:
(a) What was the largest percentage GDP decline since the Great Depression?
(b) What was
(i) The longest post-World War II recession?
(ii) The shortest post-World War II recession?
Transcribed Image Text:
Peak Percentage Decline in Real GDP Duration Unemployment Rate Dates (Months) Aug. 1929-Mar. 1933 May 1937-June 1938 Feb. 1945-Oct. 1945 43 35.4% 24.9% 13 9.4 20.0 23.8 4.3 Nov. 1948–Oct. 1949 9.9 7.9 11 July 1953-May 1954 Aug. 1957-Apr. 1958 Apr. 1960-Feb. 1961 10.0 10 6.1 14.3 7.2 7.5 7.1 10 Dec. 1969-Nov. 1970 11 8.1 6.1 16 Nov. 1973-Mar. 1975 14.7 9.0 Jan. 1980-July 1980 July 1981-Nov. 1982 July 1990-Feb. 1991 8.7 7.6 16 12.3 10.8 2.2 6.5 Mar. 2001-Nov. 2001 8. 0.6 5.6 4.1 Dec. 2007-June 2009 18 10.0
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Related Book For
The Macro Economy Today
ISBN: 978-1259291821
14th edition
Authors: Bradley R. Schiller, Karen Gebhardt
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