Which of the following statements about mining booms is true?(1 point)

Question

Responses

The economy tends to grow in the long term.
The economy tends to grow in the long term.

The population tends to grow in the long term.
The population tends to grow in the long term.

Property values tend to increase in the short term.
Property values tend to increase in the short term.

Unemployment rates tend to increase in the short term.

Answer 1

The statement that is true about mining booms is:

Property values tend to increase in the short term.

During a mining boom, there is typically an influx of workers and investment in the local area, which can drive up demand for housing and commercial properties, leading to increased property values.

The other statements may not necessarily hold true: economic growth can be cyclical and uncertain after a boom, population growth may stabilize or decline after the boom, and unemployment rates typically decrease in the short term due to increased job opportunities during the boom.