Texas May Have Been Spared Some of the Worst Consequences

question 66

Multiple Choice

Texas may have been spared some of the worst consequences of the Great Recession due to

• A) its diversified economy.
• B) lax rules on home equity loans.
• C) rapidly rising property values.
• D) a stagnant oil and gas industry.

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Definitions:

World Economy

The global network of economic activities, trade, and financial systems that transcend national borders, facilitating international cooperation and competition.

Government Stabilize

Refers to actions taken by the government to reduce economic fluctuations and maintain economic stability.

Socio-political Condition

The combined social and political factors and environments that affect the functioning and governance of a society.

Sustained Decline

A continuous decrease over a significant period, often referring to economic indicators like GDP or employment.