How many major deviations from trend GDP has the United States experienced between 1929 and 2017?
A) one
B) two
C) three
D) four

Question

Quizplus · Accepted Answer

The United States has experienced two major deviations from trend GDP between 1929 and 2017. The first was the Great Depression of the 1930s, and the second was the Great Recession of 2008-2009. Both of these events had significant impacts on the economy and resulted in several years of negative GDP growth. While there have been other periods of slower than average growth or brief recessions, they do not qualify as major deviations from the trend.

How Many Major Deviations from Trend GDP Has the United