Using Table 21.1, find the average duration, the minimum duration, and the maximum duration of expansions in the United States since 1929.U.S. Recessions since 1929Peak date(beginning)Trough date(end)Duration(months)Highest Unemployment Rate (%)Change in real GDP(%)Duration of subsequent expansion(months)Aug. 1929Mar. 19334324.9–28.850May 1937June 19381319.0?5.580Feb. 1945Oct. 194583.9?8.537Nov. 1948Oct. 1949115.9?1.445July 1953May 1954105.5?1.239Aug. 1957Apr. 195886.8?1.724Apr. 1960Feb. 1961106.72.3106Dec. 1969Nov. 1970115.90.136Nov. 1973Mar. 1975168.5?1.158Jan. 1980July 198067.6-0.312July 1981Nov. 1982169.7-2.192July 1990Mar. 199187.5-0.9120Mar. 2001Nov. 200185.80.873Dec. 2007June 20091810.0-4.
Enter your response as an integer value. Average duration:
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