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The domestic economy in the United States expanded in a remarkably vigorous and steady fashion. The revival in consumer confidence was reflected in the higher proportion of incomes spent for goods and services and the marked increase in consumer willingness to take on installment debt. A parallel strengthening in business psychology was manifested in a stepped-up rate of plant and equipment spending and a gradual pickup in expenses for inventory. Confidence in the economy was also reflected in the strength of the stock market and in the stability of the bond market. For the year as a whole, consumer and business sentiment benefited from the ease in East-West tensions.
The bases of the business expansion were to be found mainly in the stimulative monetary and fiscal policies that had been pursued. Moreover, the restoration of sounder liquidity positions and tighter management control of production efficiency had also helped lay the groundwork for a st
A. reduced government spending.
B. devaluation of the dollar.
C. productivity measures.
D. wage and price controls.
Enter the information age. Information is the raw material for many of the business activities shaping this new era, (1) iron and steel were the basic commodities in the dawning of the industrial age.
The world’ s knowledge is said to be doubling (2) eight years. This knowledge explosion is (3) economic progress. The need to collect, analyze, and communicate (4) quantities of information is Spawning new products and services, creating jobs, and widening career opportunities.
The information age is (5) considered to be a phenomenon of the service sector of the economy, (6) a product of heavy industry. Certainly, burgeoning information technologies are creating new capabilities (7) knowledge-based service spheres. But changes just as dramatic are (8) industry, giving people the opportunity to do challenging work in exciting new ways.
Manufacturing is a full participant in the information age. From
A. in
B. by
C. over
D. on
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