All the Following Statements Describe the Affluence of the 1950s

question 3

Multiple Choice

All the following statements describe the affluence of the 1950s except

• A) Federal spending was a major stimulus for economic growth.
• B) Electronics became one of the nation's largest industries.
• C) About 60 percent of Americans owned homes by the end of the decade.
• D) All of these choices
• E) None of these choices

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Definitions:

Labor

The human effort, both physical and mental, used in the creation of goods and services.

Positive Supply

A situation in which the quantity of goods or services offered for sale increases as the price increases, adhering to the law of supply.

Demand Curve

A graphical representation showing the relationship between the price of a good and the quantity of the good that consumers are willing and able to purchase at various prices.

Plaster

A building and sculpting material made from a mixture of water, gypsum, and sometimes fibers, used for coating walls and ceilings.