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

Question

Responses

Unemployment rates tend to increase in the short term.
Unemployment rates tend to increase in the short term.

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.

Answer 1

Based on economic principles and historical observations regarding mining booms, the statement that is generally true is:

Property values tend to increase in the short term.

During a mining boom, there is often an influx of workers seeking jobs, which can increase demand for housing and other services, leading to a rise in property values.

The other statements may not hold true consistently across different regions or scenarios. For example, unemployment rates typically decrease during a boom due to job creation, the long-term economic growth may depend on various factors beyond the boom, and the population growth may not be sustained once the boom ends.