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Homework answers / question archive / Which of the following was not true for the US economy during the period from the late 1990's to 2000: a
Which of the following was not true for the US economy during the period from the late 1990's to 2000:
a. Economic expansion set a record for longevity,
b. The unemployment rate was low,
c. Millions of new jobs were created,
d. Real GDP declined.
The correct option is d. Real GDP declined.
Explanation:
During the late 1990s to 2000, US economy started growing at a faster pace as employment opportunities increase in the economy due to which there was a lesser unemployment rate. Increase in employment increased the overall output level as a result; economic expansion was experienced by the US economy. Economic expansion refers to faster economic growth, which was the result of an increase in the real GDP of the economy.
