Question

Question 6 of 10

Which of the following were some of the goals of the American Recovery and
Reinvestment Act of 2009?
A. Save existing jobs, increase federal funding for unemployment
benefits, and increase economic activity.
B. Establish Medicare, Medicaid, and Social Security programs.
C. Find those responsible for the economic meltdown and hold them
accountable.
D. Force banks to lend money to poor people in low-income
neighborhoods in order to increase home ownership.

Answer 1

Answer: A. Save existing jobs, increase federal funding for unemployment benefits, and increase economic activity.

Explanation: The American Recovery and Reinvestment Act (ARRA) of 2009 aimed to provide economic stimulus in response to the financial crisis ensuing from the 2008 economic downturn. The objectives of the American Recovery and Reinvestment Act (ARRA) entailed the facilitation of employment opportunities, the preservation of extant jobs, and the stimulation of economic expansion. The legislation encompasses stipulations for a rise in federal allocation towards unemployment compensation and infrastructure schemes, in addition to tax breaks offered to enterprises to stimulate investment in research and development. The aforementioned legislation in question did not lay the foundation for the implementation of either the Medicare or Medicaid programs. It also did not seek to impose an obligation upon financial institutions to provide loans to particular demographics. Similarly, the legislation did not seek to effectuate the establishment of the Social Security program.