Question

How Economic development was redefined during 1990s

Answer 1

Answer:

The 1990s were remembered as a time of strong economic growth, steady job creation, low inflation, rising productivity, economic boom, and a surging stock market that resulted from a combination of rapid technological changes and sound central monetary policy.The federal budget deficit increased (despite President Bush's tax hikes) as the economy contracted and unemployment increased (by 1.8 million workers).

Explanation:

Answer 2

Answer:

1. The 1990s were remembered as a time of strong economic growth, steady job creation, low inflation, rising productivity, economic boom, and a surging stock market that resulted from a combination of rapid technological changes and sound central monetary policy.

Explanation:

The economic reforms of the 1990s swept away the oppressive licensing controls on industry and foreign trade, allowed the market to determine the exchange rate, drastically reduced protective customs tariffs, opened up to foreign investment, modernised the stock markets, freed interest rates, strengthened the banking.