Which major fiscal policy measure was enacted in 2009 to combat the recession?
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Correct answer: The American Recovery and Reinvestment Act
The ARRA was a large stimulus package aimed at creating jobs and boosting the economy. It included government spending and tax cuts to increase demand.
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More Great Recession of 2008 questions
- Which sector was most directly impacted at the start of the Great Recession?
- What role did fiscal stimulus play during the recession?
- What was the Troubled Asset Relief Program (TARP) designed to do?
- Which group was most affected by rising unemployment during the Great Recession?
- What type of fiscal policy involves increasing government spending during a recession?
- Which outcome was a direct result of the housing market collapse?