The main difference in the economic model

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We started the course with a look at NBER data on business cycles. Specifically, we saw prior to 1945 that recessions lasted on average about 2 years, and after 1945 the average recession was cut in half (to just under 1 year). Based on what you’ve learned (and the main difference in the economic model) explain in detail how and why the business cycle changed after WWII.

Reference no: EM131169234

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