The Economic Expansion That Began in 1991

question 38

Multiple Choice

The economic expansion that began in 1991

• A) lasted approximately five years.
• B) lasted approximately twelve years.
• C) lasted approximately nine years.
• D) was the longest expansion in U.S.history.
• E) was the second longest expansion in U.S.history.

---

Definitions:

Work-Related Decision

A choice or judgment made in the context of one's employment or job responsibilities.

Adam Smith

An 18th-century Scottish economist and philosopher best known for his theories on free market economies, depicted in "The Wealth of Nations."

Profit

The financial gain that is realized when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.

Mechanistic Organization

A highly structured, rigid, and bureaucratic form of organization based on centralized authority and a hierarchical line of command.