The 1937 Economic Slump Was Caused in Part by

question 18

Multiple Choice

The 1937 economic slump was caused in part by

• A) a sharp decrease in government spending.
• B) a sharp rise in private spending.
• C) the huge government deficit.
• D) the repeal of the Revenue Act of 1935.
• E) the announcement that Social Security payroll taxes would be postponed.

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Definitions:

Credit Sales

Sales made by a business where payment is delayed and allowed on credit.

Total Sales

The aggregate revenue a company generates from selling its products or services within a specific period.

Cash Received

This refers to the actual amount of cash that a company collects from its business activities, including sales, financing, and investing activities.

Credit Sales

Credit sales are transactions where the goods or services are provided to the customer with the arrangement to pay at a later date.