In 2008, Consumers Were Mailed a Stimulus Check in Response

Multiple Choice

In 2008, consumers were mailed a stimulus check in response to the recession. The result showed that Ricardian equivalence:

A) held, as most people spent a substantial share of the money.
B) failed to hold, as most people spent a substantial share of the money.
C) held, as most people saved the money.
D) failed to hold, as most people saved the money.