What Is Generally True of Consumers in a Recession

question 56

Multiple Choice

What is generally true of consumers in a recession?

• A) Everyone suffers and cuts back on spending.
• B) The rich suffer as the poor cut back on spending.
• C) Many reallocate spending and buy less on credit cards.
• D) Everyone cuts back on spending, but only the low-income consumer segments suffer.

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Definitions:

Working Class

A social group consisting of people employed in lower tier jobs, often involving manual labor or industrial work, and typically characterized by lower income and educational levels.

Religion

A system of beliefs, practices, and moral values centered around the worship of a higher power or deity.

Group Consensus

A mutual agreement or collective unanimous decision-making process within a group.

Argue Blindly

Engaging in an argument or debate without considering or acknowledging the opposing viewpoints or evidence.