In the Premodern World,the Line Between Work and Play Was

question 83

Multiple Choice

In the premodern world,the line between work and play was NOT very clearly defined.Why was this the case?

• A) Religious beliefs prohibited this distinction.
• B) Too many people died young.
• C) People had fewer recreational options.
• D) People did not have adequate technology for recreation.

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Definitions:

Classical Economics

Laissez-faire economics. Our economy, if left free from government interference, tends toward full employment. The prevalent school of economics from about 1800 to 1930.

Fiscal Policy

Manipulation of the federal budget to attain price stability, relatively full employment, and a satisfactory rate of economic growth.

Recessions

Periods of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.

Equation of Exchange

An economic equation (MV = PQ) that relates the money supply (M) and its velocity (V) to the price level (P) and quantity of goods sold (Q).