Statement I: Our economy is expanding a majority of the time.
Statement II: We have had only two recessions since 1945 that lasted over one year.

Question

Quizplus · Accepted Answer

Statement I is true as economic expansion is a long-term trend for most economies, including the US. Statement II is also true as there have been only two recessions in the US since 1945 that lasted over a year, which are the 1973-75 recession and the 2008-09 recession.

Statement I: Our Economy Is Expanding a Majority of the Time