The 1990 U.S.recession Was

question 67

Multiple Choice

The 1990 U.S.recession was

• A) triggered by a negative supply shock
• B) characterized by falling wage rates as the economy began to correct itself
• C) relatively painless
• D) triggered by a negative demand shock
• E) characterized by disinflation

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Definitions:

Wide Imitation

The extensive replication of a product, service, or innovation by multiple competitors or industry participants, often signalling the success or desirability of the original.

Creative Destruction

A process through economic innovation in which older models or structures are destroyed to make way for new advancements.

Diffusion

The process by which a technological innovation, cultural trend, or new idea spreads through a population or society.

Innovation

The act of introducing something new or improving an existing product, service, or process to enhance productivity or create value.