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Chapter 19: Q. 7 (page 470)

According to Table 19.7, how long has the average expansion lasted since the end of World War II?

Short Answer

Expert verified

The average expansion lasted for more than 5years since the end of World War II.

Step by step solution

01

Step 1. Given

Table 19.7lists the pattern of recessions and expansions in the U.S. economy since 1900.

The table lists the "Months of Expansion".

02

Step 2. Explanation

We must take an average of the months of expansion since the end of World War II i.e., from 1949to 2001.

Average expansionlocalid="1646678877052" =45+39+24+106+36+58+12+92+120+7310=60510=60.5months or more than 5years.

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