Productivity in the United States Doubled Between 1945 and 1990

question 1

Multiple Choice

Productivity in the United States doubled between 1945 and 1990. However, the work week didn't get shorter because

• A) income taxes were raised.
• B) the standard of living increased.
• C) corporate downsizing reduced the number of people in the workforce.
• D) the pay of CEOs skyrocketed.
• E) taxes doubled between 1945 and 1990.

Interpreting the effect of various transactions on total assets, liabilities, shareholders' equity, including dividends.

Grasp the principle of double-entry accounting and its impact on the financial statements.

Understand the principles of the double-entry accounting system.

Identify how transactions affect the accounting equation.

---

Definitions:

Foreign Competition

Competition that domestic companies face from companies located in other countries, influencing markets, pricing, and innovation.

Trade Restrictions

Measures such as tariffs, quotas, and embargoes that countries impose to control the amount of trade across their borders.

Import-Substitution Policy

An economic strategy aimed at reducing dependence on imported goods by promoting domestic production of similar products.

Trade Restrictions

Measures implemented by a government to control or limit the import and/or export of goods and services, often to protect domestic industries.