During the first year of the Bush administration in 2001, the American economy
A)increased its already rapid growth rate.
B)experienced high levels of inflation.
C)slowed in its rate of economic growth.
D)experienced a decrease in the rate of unemployment.

Question

Quizplus · Accepted Answer

The American economy slowed in its rate of economic growth during the first year of the Bush administration in 2001. This was largely due to the effects of the dot-com bubble burst, which had occurred in the last months of the previous Clinton administration. In addition, the September 11th terrorist attacks caused significant disruption to the economy, particularly in the travel and tourism sectors. While unemployment rates did not significantly increase, they did not decrease either, remaining relatively stable throughout the year. Inflation was also not a major issue during this time.

During the First Year of the Bush Administration in 2001