Question

According to Table $19.7$, how often have recessions occurred since the end of World War II ($1945$)?

Short answer

Since the end of World War II, recessions have occurred once every six years.

Step-by-step solution

Step 1. Given

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

Step 2. Solution

$11$ recessions in approximately $70$ years averages about one recession every six years.