Recall the Application About the Factors Involved in Causing Recessions

question 137

Multiple Choice

Recall the Application about the factors involved in causing recessions, and the causes of recessions in the United States from 1893 to 1990 to answer the following question(s) .
-According to this Application, the recession in 1991 was caused by

• A) increasing oil prices which resulted in a decrease in aggregate supply.
• B) the government cutting back on aggregate demand to reduce inflation.
• C) an decrease in aggregate supply resulting from U.S. bank collapses.
• D) massive immigration from Europe to the United States.

---

Definitions:

Manufacturing Overhead

All manufacturing costs that are not directly assignable to specific units of production, including indirect materials, indirect labor, and other indirect costs.

Cost of Goods Sold

The total cost associated with making the products that a company sells during a period, including labor, materials, and overhead.

Balance Sheet

A report detailing a business's liabilities, assets, and equity held by shareholders at a particular moment, offering a glimpse into its financial status.

Spreadsheet

A spreadsheet is a digital document consisting of rows and columns used to organize, calculate, and manage data, commonly via applications such as Microsoft Excel or Google Sheets.