Of the Recessions and Expansions from 1950 to 1990,the Common

question 49

Multiple Choice

Of the recessions and expansions from 1950 to 1990,the common events were

• A) reactions to war and oil prices
• B) tax increases and tax cuts
• C) changes in exports
• D) Decreases in welfare spending
• E) Increases and decreases in health care spending

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Definitions:

Boom-And-Bust Cycles

Economic phenomena characterized by periods of rapid economic expansion (booms) followed by periods of recession or decline (busts).

Workers

Individuals engaged in physical or intellectual labor for wages, part of the labor force in an economy.

Anglo-American Artists

Artists of English descent or origin who live or lived in the United States, often known for incorporating themes and styles from both cultures in their work.

Stephen H. Long

An American explorer in the early 19th century known for his expedition into the Great Plains, significantly contributing to the United States' westward expansion.