Statement I: Since the close of World War II our expansions have never been shorter than 20 months.
Statement II: The longest expansion on record since 1945 has been 7 years.

Question

Quizplus · Accepted Answer

Both statements are false. Since World War II, economic expansions in the United States have varied significantly in length, with some lasting much longer than 7 years. For example, the expansion from March 1991 to March 2001 lasted about 10 years, and the expansion from June 2009 to February 2020 lasted nearly 11 years, making both of these expansions longer than the 7 years mentioned in Statement II. Therefore, Statement II is false. Additionally, there have been expansions shorter than 20 months, making Statement I also false.

Statement I: Since the Close of World War II Our