Which of the Following Was Not a Major Source of Economic

question 17

Multiple Choice

Which of the following was not a major source of economic growth in the 1920s?

• A) construction of residential housing
• B) production of consumer durables
• C) railroad construction
• D) automobile production

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Definitions:

Convex Preferences

In microeconomics, a condition where consumers prefer a mix of goods over having only one good, illustrated by a convex shape of their indifference curves.

Centered

In a general context, it means being in the middle or at the heart of something; in mathematics, it can refer to the process of adjusting data points or a distribution so that its mean equals zero.

Convex Preferences

Refers to a situation in economics where a consumer prefers a mix or combination of goods over having all of one good, demonstrating a desire for diversity in consumption.

Exchange

The act of giving one thing and receiving another in return, particularly in reference to goods, services, or currencies.