Related to the Economics in Practice on p. 98: F. Scott Fitzgerald's The Great Gatsby is set in the 1920s. During the 1920s, the U.S. economy was primarily in which phase of the business cycle?
A) peak
B) recession
C) trough
D) expansion

Question

Quizplus · Accepted Answer

The 1920s were a period of expansion in the U.S. economy, characterized by a boom in consumer spending, industrial production, and the stock market. This period is also known as the Roaring Twenties, and it was a time of rapid economic growth and increasing prosperity for many Americans. This is reflected in the excess and extravagance depicted in The Great Gatsby, as people indulged in luxury and excess during this period of economic growth.

Related to the Economics in Practice on P