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

Question

Responses

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

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.

Property values tend to increase in the short term

Answer 1

The correct response regarding mining booms is:

Property values tend to increase in the short term.

During a mining boom, there is usually an influx of workers and investment in the area, which can drive up local property values in the short term. However, the other statements about long-term population growth and economic growth can be more variable, depending on various factors such as the sustainability of the mining operation, potential economic diversification, and the boom's eventual decline. Unemployment rates typically decrease during the boom phase due to increased job opportunities.