Which of the Following Is a Typical Effect of an Economic

question 120

Multiple Choice

Which of the following is a typical effect of an economic recession?

• A) An increase in the standard of living
• B) A decrease in unemployment
• C) An increase in the expenditure on luxury goods
• D) A decrease in the value of retirement accounts
• E) An increase in the value of insurance purchased

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Definitions:

Wheat

A cereal grain that is a worldwide staple food, used for making products like bread, pasta, and pastry.

Direct Payments

Cash subsidies paid to farmers based on past production levels; a permanent transfer payment unaffected by current crop prices and current production.

Food For Peace Program

A United States government initiative aimed at providing food aid to foreign countries to assist in hunger relief and to enhance food security.

Surplus U.S. Farm Products

Excess agricultural products in the United States that exceed domestic demand, often leading to exports or storage.