The American Recovery and Reinvestment Act (ARRA) was approved by President Barack Obama in 2009, and consisted on a stimulus package released with the aim of preventing the destruction of jobs, fostering the creation of new ones, and boosting the aggregate demand as a mechanism for economic recovery. Therefore, recovery from the recession of 2007-2009 was sought through the Keynesian way.
One negative effect of the spending schedule imposed by the ARRA, was that a great part of the money had to be borrowed. National debt was increased and this led to a deficit situation.
Answer: The need to expand the market.
Explanation:
The Industrial Revolution had a global impact. At the moment when industrial production became more massive, there was a need to expand the market. It was necessary to sell the produced goods and form new markets. In such circumstances, imperialism appears; European countries conquer new areas to place on the market and sell their goods. As a product of the Industrial Revolution, Imperialism also needed new cheap labor that it could find on the Asian continent.
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