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.
Answer:
During Washington's presidency, some British sailors off the coast of America were practicing impressment, in which they would force Americans to work on British ships. ... Washington made treaties to avoid problems.
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The factory should respond to the increase in price by increasing the number of blue widgets produced.
<h3>Why should the company increase production?</h3>
It goes in line with the Law of Supply which states that when prices rise, supply rises as well.
Increasing supply provides producers with more profit.
If the company notices that the price of blue widgets has increased, they should increase supply. This will give them a chance to make more profit from the increased prices.
Find out more on the law of supply at brainly.com/question/1341614.