Use the NBER data in Table 8.1 in the textbook on U.S. business cycle turning points to calculate: a) the shortest business cycle from peak to peak; b) the shortest business cycle from trough to trough; c) the longest business cycle from peak to peak; and d) the longest business cycle from trough to trough.
What will be an ideal response?
| (a) | The shortest business cycle from peak to peak is 17 months, which extended from August 1918 |
| (b) | The shortest business cycle from trough to trough is 28 months, which extended from July 1980 |
| (c) | The longest business cycle from peak to peak is 128 months, which extended from July 1990 to |
| (d) | The longest business cycle from trough to trough is 128 months, which extended from March |
You might also like to view...
An example of physical capital is:
A. a construction worker's strength. B. a scientist's knowledge of cellular biology. C. Both of these are examples of physical capital. D. Neither of these is an example of physical capital.
If you sign up for a class and then drop it mid-semester, you must not have been making a rational choice when you were enrolling in classes.
Answer the following statement true (T) or false (F)
Which of the following would shift aggregate demand to the right?
a. College graduates are having a difficult time finding jobs. b. There is a decline in consumer confidence. c. Stock market values increase by 20%. d. A fall in the price level increases the value of real wealth. e. The value of the dollar increases.
The following are national income account data for a hypothetical economy in billions of dollars: government purchases ($940); personal consumption expenditures ($4,920); imports ($170); exports ($133); gross private domestic investment ($640). What is GDP in this economy?
a. $6,633 billion b. $6,463 billion c. $6,500 billion d. $6,537 billion