Logout Open In App
Open In App
Warning: foreach() argument must be of type array|object, bool given in /var/www/html/web/app/themes/studypress-core-theme/template-parts/header/mobile-offcanvas.php on line 20

Chapter 6: Q. 5 (page 160)

According to Table 6.7, how often have recessions occurred since the end of World War II (1945)?

Short Answer

Expert verified

A recession is a period of decline in economic performance in an economy lasting several months.

Step by step solution

01

Step 1. Given Information

Table 6.7

02

Step 2. Description

A recession is a period of decline in economic performance in an economy lasting several months. recessions in approximately 70 years averages about one recession every six years.

Unlock Step-by-Step Solutions & Ace Your Exams!

  • Full Textbook Solutions

    Get detailed explanations and key concepts

  • Unlimited Al creation

    Al flashcards, explanations, exams and more...

  • Ads-free access

    To over 500 millions flashcards

  • Money-back guarantee

    We refund you if you fail your exam.

Start your free trial

Over 30 million students worldwide already upgrade their learning with Vaia!

One App. One Place for Learning.

All the tools & learning materials you need for study success - in one app.

Get started for free

Most popular questions from this chapter

Without looking at Table 6.7, return to Figure 6.10. If we define a recession as a significant decline in national

output, can you identify any post-1960 recessions in addition to the 2008-2009 recession? (This requires a judgment

call.)

Fig. 6.10

What are the main components of measuring GDP

with what is produced?

Is it possible for GDP to rise while at the same time per capita GDP is falling? Is it possible for GDP to fall while per capita GDP is rising?

Which of the following are included in GDP, and which are not?

a. The cost of hospital stays

b. The rise in life expectancy over time

c. Child care provided by a licensed day care center

d. Child care provided by a grandmother

e. A used car sale

f. A new car sale

g. The greater variety of cheese available in supermarkets

h. The iron that goes into the steel that goes into a refrigerator bought by a consumer.

List some of the reasons why economists should

not consider GDP an effective measure of the standard of living in a country.
See all solutions

Recommended explanations on Economics Textbooks

Taxation Economics

Read Explanation
View all explanations

What do you think about this solution?

We value your feedback to improve our textbook solutions.

Study anywhere. Anytime. Across all devices.

Sign-up for free