Asked by Taylor Gonzalez on May 09, 2024
Verified
The Great Recession ended in June 2009 but the peak in unemployment occurred in ____________.
A) August 2009.
B) October 2009.
C) January 2010.
D) March 2010.
Great Recession
A global economic downturn that occurred from late 2007 through 2009, marked by severe financial crises, including the collapse of the housing market in the United States.
Peak
The highest point between the end of an economic expansion and the start of a contraction in a business cycle.
Unemployment
The condition of being without a job while actively looking for employment and being willing to work.
- Identify the distinctions between a recession and a depression, focusing on their symptomatic indicators and resultant impacts.
Verified Answer
AG
Analisa GarciaMay 11, 2024
Final Answer :
B
Explanation :
The peak in unemployment occurred in October 2009, four months after the end of the Great Recession. This is because unemployment is a lagging indicator and reflects the state of the economy after other indicators have already shown improvement.
Learning Objectives
- Identify the distinctions between a recession and a depression, focusing on their symptomatic indicators and resultant impacts.