HURRY!

which statement best describes the state of the economy when President Obama took office?

A. Inflation was out of control, and americans could now afford basic necessities

B. Financial institutions were failing, housing prices had fallen, and unemployment was rising.

C. Employment was increasing, and businesses were making record profits.

D. Inflation was rising, interest rates were rising, and housing prices were rising.

Question

History

Alfredo Mejia

2 March, 21:05

HURRY!

which statement best describes the state of the economy when President Obama took office?

A. Inflation was out of control, and americans could now afford basic necessities

B. Financial institutions were failing, housing prices had fallen, and unemployment was rising.

C. Employment was increasing, and businesses were making record profits.

D. Inflation was rising, interest rates were rising, and housing prices were rising.

+3

Answers (2)

Know the Answer?

Lukas Lee · Answer 1

B. Financial institutions were failing, housing prices had fallen, and unemployment was rising.

Nina · Answer 2

B. Financial institutions were failing, housing prices had fallen, and unemployment was rising.

President Obama took office in the shadow of the financial crisis of 2007-08 that had been caused by subprime housing market. Financial institutions were weak and unemployment rising