In 2008 the United States, as well as the rest of the world, felt the effects of the recession.After the collapse of the housing market, people lost their jobs and they quit spending money.Many people could not afford their mortgages anymore and their homes went into foreclosure.For many people, it was a time of __________.

Question

Quizplus · Accepted Answer

The correct term is "downward mobility," which refers to a decrease in social, economic, or professional status, fitting the context of the recession's impact on individuals' financial and social positions.

In 2008 the United States, as Well as the Rest