The Longest U.S.expansion on Record Lasted Ten Years,from

question 39

Multiple Choice

The longest U.S.expansion on record lasted ten years,from

• A)April 1854 to April 1864
• B)March 1991 to March 2001
• C)December 1997 to December 2007
• D)September 1929 to September 1939
• E)February 1961 to February 1971

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Definitions:

Econometrics

The application of statistical methods to economic data to give empirical content to economic relationships.

Empirical Economics

An approach to economics that relies on real-world data and statistical analysis to validate or disprove theories and models.

Normative Statement

An assertion that expresses a judgment about what ought to be, based on values or opinions rather than facts.

Living Wage

A wage that is high enough to maintain a normal standard of living, covering basic expenses such as housing, food, taxes, and healthcare.