Question 1
Related to the
Economics in Practice on p. 418: F. Scott Fitzgerald's
The Great Gatsby is set in the "Roaring '20s." This decade in U.S. history was characterized by
◦ economic expansion and high unemployment.
◦ recession and high unemployment.
◦ economic expansion and low unemployment.
◦ the Great Depression and stagflation.
Question 2
Related to the
Economics in Practice on p. 418: John Steinbeck's
The Grapes of Wrath is set in the early 1930s. During this time, the U.S. economy was primarily in the ________ phase of the business cycle, culminating in the Great Depression.
◦ peak
◦ recession
◦ trough
◦ expansion