Ma Ea: As Sa Qu Le | TE Sc Se SP Inv | Prc| Le |G wh| M Co | 2 Po & In ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheduca Problem Set i Saved Problem 12-01 since 1929 Using the table below, find the average duration, the minimum duration, and the maximum duration of expansions in the United States pped Recession Duration of Highest subsequent Peak date (beginning ) Duration Trough date (end) Unemployment Change in real expansion (months) August 1929 Rate (8 ) GDP ( 8 ) March 1933 (months) 43 May 1937 24.9 -26.3 50 Book June 1938 February 1945 13 19.0 +3.3 80 October 1945 November 1948 3.9 -11.6 37 October 1949 11 July 1953 5.9 -0.5 45 May 1954 Print 10 5 .5 August 1957 -0.6 39 April 1958 8 April 1960 6.8 - 0 . 7 24 February 1961 10 6.7 December 1969 2 .6 106 November 1970 11 5.9 0 . 2 ferences November 1973 36 March 1975 16 8.5 January 1980 -0 . 7 58 July 1980 6 7. 6 - 0 .2 July 1981 12 November 1982 16 9 . 7 -1.9 July 1990 March 1991 8 92 7.5 - 0. 1 120 March 2001 November 2001 6.0 1.0 December 2007 73 June 2009 18 9 .6 - 3. 1 128 February 2020 ??? Instruction: Enter your responses as whole numbers. Average duration: Minimum duration:[ Maximum duration: Are expansions getting longer or shorter on average over time? (Click to select) v Is there any tendency for long expansions to be followed by long recessions? |(Click to select) v Graw Prev 1 of 9 Next Hill E........ MacBook ProMEa As Sa 3 Qu 3 Le ) TE Sc ) Se SP Inv Pr & Le G wt |M Co |2 Po ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.m oblem Set Saved Check my work mode : This shows what is correct or incorrect for the work you have completed so far. I Problem 12-03 (algo, with video solution) Given below are data on real GDP and potential GDP for the nation of Anaziland for the years 2009-2013, in billions of 2009 currency. For each year, calculate the output gap as a percentage of potential GDP and state whether the gap is a recessionary gap or an expansionary gap. Also calculate the year-to-year growth rates of real GDP. Instructions: Enter your response as a percentage rounded two decimal places.If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Growth rate of Year Real GDP Potential GDP Output gap Type of gap real GDP 2009 12 , 060 12, 330 recessionary 2010 12 , 590 12, 250 expansionary expansionary 2011 13 , 050 12 , 560 recessionary 2012 12, 900 13 , 150 8 12 , 680 13 , 450 8 recessionary 2013 Recessionary gap is identified during 2009-2010; 2013 2010-2011 O 2011-2012 2009; 2012-2013 MacBook Pro