US Economy: Post-Great Recession

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Questions and Answers

What is the current unemployment rate in the U.S. as of November 2019?

  • 2.5%
  • 4%
  • 5%
  • 3.5% (correct)

How does household incomes growth in this century compare to its pre-recession level?

  • Returned to pre-recession level
  • Decreased significantly
  • Remained stagnant
  • Grown only modestly (correct)

In which period did most of the increase in household income occur?

  • 2000 to 2018
  • 1960 to 1970
  • 1980 to 1990
  • 1970 to 2000 (correct)

What was the median income of U.S. households in 2018?

<p>$74,600 (C)</p> Signup and view all the answers

What was the annual average rate of growth in household income from 2000 to 2018?

<p>0.3% (A)</p> Signup and view all the answers

If there had been no slowdown in income growth from 2000 to 2018, what would the current median U.S. household income be?

<p>$87,000 (C)</p> Signup and view all the answers

What marked the onset of the Great Recession?

<p>2007 (C)</p> Signup and view all the answers

What was the median U.S. household income in 2015?

<p>$70,200 (C)</p> Signup and view all the answers

What factors are tied to the rise in economic inequality in the U.S.?

<p>Technological change, globalization, decline of unions, and eroding value of the minimum wage (D)</p> Signup and view all the answers

What phenomenon is referred to as The Great Gatsby Curve?

<p>Diminished economic opportunity and mobility (D)</p> Signup and view all the answers

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