The correct option is B) Economic hardship due to promises made in
past years.
The choice best describes the current financial situation in many major American cities is Economic hardship due to promises made in past years.
<h3>What is economics?</h3>
Economics is more than simply money. It is all about weighing several options or alternatives.
Some key features regarding the economics are-
Some of those critical decisions include money, but the vast majority do not.
Most of our daily, weekly, or life decisions are not related to money, but they are still considered economic decisions.
For example, whether you or your roommate should clean up or do the meals, should you spend an hour per week volunteering for a charitable cause or sending them a small donation via text message, or whether you should get a job to help endorse your brothers and sisters or parents or save for ones future are all economic choices.
