782.Recessions in the United States have a long history in the United States, demonstrating that they are a normal, albeit painful, component of the business cycle. When a recession begins and ends, the National Bureau of Economic Research determines it. Recessions are defined by the gross domestic product (GDP), which is measured by the Bureau of Economic Analysis. The unemployment rate is reported by the Bureau of Labor Statistics. Because unemployment is a lagging economic indicator, it generally rises after a recession ends. Most firms will not hire permanent personnel until they are confident that the economy is on its feet again. Explain the recession of 1973-75, 1970 ,1960,1957,1953, 1949, 1945. 750 words.