In 2008, the United States Was in Recession

question 122

Multiple Choice

In 2008, the United States was in recession. Which of the following things would you not expect to have happened?

• A)Increased layoffs and firings
• B)A higher rate of bankruptcy
• C)Increased claims for unemployment insurance
• D)Increased real GDP

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Definitions:

Debit

An accounting entry that results in either an increase in assets or a decrease in liabilities on a company's balance sheet.

Balance of Payments

A comprehensive record of a country's financial transactions with the rest of the world over a specific time period, including exports and imports of goods and services, financial transfers, and investments.

Oxfam America

A branch of the international confederation Oxfam, focused on addressing poverty, hunger, and injustice through advocacy and humanitarian efforts.

Drought Victims

Individuals or communities adversely affected by prolonged periods of below-average precipitation, leading to water shortages and damaging agricultural productivity.