Problem
The National Bureau of Economic Research (NBER) maintains the official chronology of past U.S. business cycles. Answer the following questions.
a. How many business cycles have occurred since the end of World War II in 1945?
b. What was the average duration of a business cycle when measured from the end of one expansion (its peak) to the end of the next? That is, what was the average duration of a business cycle in the period from 1945 to 2001?
c. When was the last announcement by the NBER's Business Cycle Dating Committee, and what was it?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.