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Chapter 1: Q.1DQ (page 22)

How did the recession of 2007鈥�2009 compare with other recessions since the Great Depression in terms of length?

Short Answer

Expert verified

Answer

It was the longest.

Step by step solution

01

Step 1: The length of the Great depression

The Great Depression was the longest period of recession in the US.This recession lasted for a period of 3 years 7 months. It started in the year 1929 and ended in the year 1933.

02

 Step 2: The recession of 2007-2009

The 2007-2009 recession was 1 year 6 months long. It started in 2007 and ended in 2009. This was the longest period of recession to have occurred in the US after the Great Depression.

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