During the 1920s, the United States economy moved through which phase of the business cycle?

A. expansion
B. peak
C. contraction
D. trough

During the 1920s, the United States economy experienced enormous growth and became the wealthiest and most productive economy in the entire world. Therefore, during this time the economy went through a period of expansion. However, in 1929 a major depression plagued the American economy which led to massive decline, therefore this period would largely be defined as an expansionary period which was a peak in the economic cycle prior to the Great Depression.

Answered by Gibbs | 2024-06-10

The economy of the United States during the 1920s moved through a phase of ‘Expansion’. ;

Answered by avantikar | 2024-06-12

In the 1920s, the United States economy underwent a significant period of expansion, ultimately reaching its peak just before the Great Depression in 1929. The expansion was characterized by rapid growth, industrial advancement, and increases in consumer spending. Therefore, the correct answer is A. expansion.
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Answered by Gibbs | 2024-10-18