In 2008,the wealth of U.S.households fell by ________.
A)$11 million
B)$11 billion
C)$11 trillion
D)$11 gajillion

Question

Quizplus · Accepted Answer

The correct answer is C because the Great Recession caused a major decline in the value of U.S. households' assets such as homes, stock portfolios, and retirement savings. According to the Federal Reserve, the net worth of U.S. households fell by $11 trillion between mid-2007 and early 2009. This represented a 18% drop in overall wealth and was the largest decline since the Great Depression.

In 2008,the Wealth of U.S.households Fell by ________