The Great Recession of 2008 Caused

question 6

Multiple Choice

The Great Recession of 2008 caused

• A) an increase in the number of long-term unemployed.
• B) Supplemental Nutrition Assistance Program expenditures (food stamps) to soar.
• C) an increase in discrimination of the long-term unemployed.
• D) a decrease in requests for food assistance because unemployment insurance benefits were extended.
• E) Options A, B, and C are true.

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Definitions:

Arbitraging

The practice of buying a product or asset in one market and selling it in another to profit from a difference in price between the two markets.

Transportation Costs

Expenses involved in moving goods or services from one location to another.

Real Price

The market price adjusted for inflation, showing the purchasing power of an amount of money.

CPI

The Consumer Price Index represents a calculated average of the prices for a mix of consumer products and services, including food, transportation, and healthcare, weighted by their importance.