The Expansion and Contraction of the World Economy Since the Late

question 4

Multiple Choice

The expansion and contraction of the world economy since the late 1700s is sometimes described in terms of long-term cycles in prices named after the Russian economist Kondratiev. How long on average is each entire growth-stagnation cycle?

• A) 20 years
• B) 50-55 years
• C) 11-15 years
• D) 40 years

---

Definitions:

Sweatshops

Work environments that are characterized by poor working conditions, low wages, and long hours, often associated with the exploitation of labor in developing countries.

Exploitation

The act of treating someone unfairly in order to benefit from their work or resources.

United States

A country located primarily in North America, consisting of 50 states, a federal district, five major self-governing territories, and various possessions.

Telecommuting

The practice of working from a remote location, often a home office, through the use of technology.