One Reason for the End of the Postwar Economic Boom

question 55

Multiple Choice

One reason for the end of the postwar economic boom in the 1970s was

• A) the entry of large numbers of women in the workforce.
• B) the Arab oil embargo.
• C) a decline in technological innovation.
• D) a lack of government safety and health regulations.
• E) a drastic decline in worker productivity.

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Definitions:

Perpetual Inventory Method

An inventory management system that continuously updates the quantity and value of inventory on hand and sold, using real-time data.

Financial Statements

Reports summarizing the financial performance, position, and cash flows of a business for a specific period, including balance sheet, income statement, and statement of cash flows.

Contra Accounts

Accounts used in accounting to reduce the value of a related account to derive its net balance; examples include accumulated depreciation.

Normal Balances

The side of an account (debit or credit) where increases to the account are recorded; assets and expenses typically have debit normal balances, while liabilities, equity, and revenue have credit normal balances.