Between the second quarter of 2006 and the first quarter of 2009, the value of housing wealth
A) increased by about $500 billion per quarter.
B) increased by about $13 trillion per quarter.
C) decreased by about $600 billion per quarter.
D) decreased by about $7 trillion per quarter.

Question

Quizplus · Accepted Answer

During this period, there was a housing crisis which led to a decline in the value of housing wealth. The decrease was not as severe as option D, which would have resulted in a total decrease of around $84 trillion over three years. Option B is also incorrect as it would have resulted in a total increase of around $156 trillion over three years, which is not plausible for the housing market. Option A is also incorrect as it would have resulted in a total increase of only around $27 trillion over three years.

Between the Second Quarter of 2006 and the First Quarter