Problem
|
Trough
|
Peak
|
Months of Contraction
|
Months of Expansion
|
|
December 1900
|
September 1902
|
18
|
21
|
|
August 1904
|
May 1907
|
23
|
33
|
|
June 1908
|
January 1910
|
13
|
19
|
|
January 1912
|
January 1913
|
24
|
12
|
|
December 1914
|
August 1918
|
23
|
44
|
|
March 1919
|
January 1920
|
7
|
10
|
|
July 1921
|
May 1923
|
18
|
22
|
|
July 1924
|
October 1926
|
14
|
27
|
|
November 1927
|
August 1929
|
13
|
21
|
|
March 1933
|
May 1937
|
43
|
50
|
|
June 1938
|
February 1945
|
13
|
80
|
|
October 1945
|
November 1948
|
8
|
37
|
|
October 1949
|
July 1953
|
11
|
45
|
|
May 1954
|
August 1957
|
10
|
39
|
|
April 1958
|
April 1960
|
8
|
24
|
|
February 1961
|
December 1969
|
10
|
106
|
|
November 1970
|
November 1973
|
11
|
36
|
|
March 1975
|
January 1980
|
16
|
58
|
|
July 1980
|
July 1981
|
6
|
12
|
|
November 1982
|
July 1990
|
16
|
92
|
|
March 1991
|
March 2001
|
8
|
120
|
|
November 2001
|
December 2007
|
8
|
73
|
|
June 2009
|
February 2020
|
18
|
128
|
A. How often have recessions occurred since the end of World War II (1945)?
B. Comment on how long has the average recession lasted since the end of World War II?
C. Comment on how long has the average expansion lasted since the end of World War II?