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Select all the statements about the fiscal response to lockdowns imposed at the beginning of the COVID-19 pandemic that are correct.
Multiple select question.

Lawmakers debated the CARES Act for several months before coming to an agreement and passing the bill.

Congress passed the CARES Act to help support individuals and business during the COVID-19 pandemic.

Relief money provided by the CARES Act began being delivered about a month after the act was approved.

Policymakers understood that once lockdowns were imposed in response to the pandemic that a recession would be an unavoidable side effect.

1 answer

The correct statements about the fiscal response to lockdowns imposed at the beginning of the COVID-19 pandemic are:

  • Congress passed the CARES Act to help support individuals and businesses during the COVID-19 pandemic.

  • Relief money provided by the CARES Act began being delivered about a month after the act was approved.

The other statements are not accurate:

  • Lawmakers did not debate the CARES Act for several months; it was passed relatively quickly in March 2020 in response to the urgent needs arising from the pandemic.

  • While many economists and policymakers were concerned about a recession as a result of lockdowns, it is not accurate to say that they universally understood it as an "unavoidable side effect" before imposing the lockdowns. There was considerable discussion and uncertainty about the economic impacts at the time.