2. Based on the data below, which of the following is true about the period from 1990–2009?

Business-Cycle Peak Business-Cycle Trough July 1990 March 1991 March 2001 November 2001 December 2007 June 2009

a. The economy spent more years in recession than expansion.

b. Each of the recessions during this period lasted for less than a year.

c. The longest expansion in this period lasted for 10 years.

d. The shortest recession lasted for three months.

e. Each recession lasted the same number of months.