Which of the following statements is true about the recession that began in 2008?
A) The economic crisis caused a short-term change in consumers' spending habits.
B) The average home value increased after the stock market plunge.
C) Decreasing energy prices provided consumers with unexpected savings.
D) Consumers brought spending more in line with their incomes.
E) Consumers quickly regained confidence in the economy.

Question

Quizplus · Accepted Answer

The recession that began in 2008 caused consumers to bring their spending more in line with their incomes as they became more cautious about their finances. This is evident by the decrease in consumer spending and increase in savings during the recession. The other statements are false.

Which of the Following Statements Is True About the Recession