THE ROARING 20S 1920 1929
1920S AMERICAN CULTURE
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The word used to describe fast economic growth
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bust
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growth spurt
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incentive
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boom
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Explanation:
Detailed explanation-1: -An economic boom is the expansion and peak phases of the business cycle. It’s also known as an upswing, upturn, and a growth period.
Detailed explanation-2: -The four phases of economic growth are expansion, peak, contraction, and trough.
Detailed explanation-3: -Economic growth – measured as an increase of people’s real income – means that the ratio between people’s income and the prices of what they can buy is increasing: goods and services become more affordable, people become less poor.
Detailed explanation-4: -The real economic growth rate, or real GDP growth rate, measures economic growth, as expressed by gross domestic product (GDP), from one period to another, adjusted for inflation or deflation.
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