While Economic Expansions Average About 3

question 16

Multiple Choice

While economic expansions average about 3.5 years in duration, what is the average duration of an economic contraction?  

• A) about 1 year 
• B) about 2 years 
• C) about 3 years 
• D) about 4 years

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Definitions:

Antique Price

The market value or cost of an object that has historical significance or is considered collectible due to its age.

Interest Rate

The rate at which interest is either incurred or earned for borrowing or lending money during a specific time frame.

Investment Purposes

The intent behind putting money into financial schemes, shares, property, or a commercial venture, aiming for a future financial return.

Vinegar

A sour liquid containing acetic acid, often used for culinary purposes like pickling and as a condiment.