What is the average length of a typical business cycle in the modern U.S.economy?

Question

Quizplus · Accepted Answer

The average length of a typical business cycle in the US economy is around 60 months or 5 years. However, it is important to note that business cycles can vary in length and are influenced by various economic factors such as fiscal and monetary policies, international trade, and technological advancements. While there is no fixed duration for a business cycle, the National Bureau of Economic Research (NBER) usually considers a period of contraction and expansion lasting at least two quarters or six months as a business cycle.

What Is the Average Length of a Typical Business Cycle