The Great Recession of 2008 saw unemployment rates reach 10 percent in October 2009 before declining in response to the economic policies of the Federal Reserve and President Obama. Not even ten years later, the unemployment rate in July 2019 reached 3.7 percent under President Trump. What does this suggest?

Question

Quizplus · Accepted Answer

The fact that the economy recovered from the Great Recession under both President Obama and President Trump suggests that harsh economic periods do not necessarily signal the end of capitalism or a declining democracy. It also suggests that while government policies can have an impact on the economy, the underlying capitalist system remains the dominant force. Both Republican and Democratic presidents were able to oversee economic recoveries, indicating that the economic policies of either party can have a positive effect on the economy. Therefore, options A, B, and C can be ruled out.

The Great Recession of 2008 Saw Unemployment Rates Reach 10