The Recession That Began in December 2007 Has Been

question 90

Multiple Choice

The recession that began in December 2007 has been

• A)longer lasting and much more severe than the 2001 recession.
• B)shorter than the 2001 recession,but much more severe.
• C)longer lasting than the 2001 recession,but less severe.
• D)the first recession of the 21^st century in the United States.
• E)shorter and less severe than the 2001 recession.

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Definitions:

Bundle

A combination of goods or services sold together as a single package, often for a price lower than the sum of their individual costs.

Initial Endowment

An economic term for the total amount of resources an individual, entity, or economy has available at the start.

Health Care Reform

Legislation and policy efforts aimed at improving the health care system, which can include changes to healthcare coverage, delivery systems, or financing mechanisms.

Taxes Rise

An increase in the amount of tax imposed by the government, which can affect consumer behavior, business profits, and the overall economy.