The Panic of 1907 lasted only a little longer than a week, but the result was a four-year recession during which output fell and unemployment rose.

Question

Quizplus · Accepted Answer

The statement is true. The Panic of 1907, which began on October 14, 1907, lasted for approximately three weeks. However, the resulting recession lasted for four years, from 1907 to 1911, during which time the United States experienced a decline in output and a rise in unemployment.

The Panic of 1907 Lasted Only a Little Longer Than