The two most important American business cycle events of the twentieth century were
A) the Great Depression and stagflation.
B) World War II and the Great Depression.
C) the productivity slowdown and the Great Depression.
D) government budget deficits and World War II.

Question

Quizplus · Accepted Answer

The Great Depression of 1929-1939 and World War II (1939-1945) were the two most important American business cycle events of the twentieth century. The Great Depression was the longest and most severe economic downturn in American history, with high levels of unemployment and poverty. The country's entry into World War II spurred economic growth and ended the Depression, as the government invested heavily in defense spending and job creation. The war also had a profound impact on the global economy and paved the way for America's emergence as a superpower.

The Two Most Important American Business Cycle Events of the Twentieth