The Worldwide Recession of the Late 2000s

question 18

Multiple Choice

The worldwide recession of the late 2000s

• A) happened despite strict government regulation.
• B) was caused by excessively high interest rates.
• C) can be characterized as a moral hazard problem.
• D) caused the collapse of the U.S. housing market.
• E) began with the collapse of the Asian currencies.

---

Definitions:

Solar Power

Solar power is energy from the sun that is converted into thermal or electrical energy, offering a renewable and sustainable source of power.

User Cost

The economic cost or expense of using a non-renewable resource or durable good, encompassing both the depreciation of the asset and the opportunity cost of not having the resource available for future use.

Extraction Cost

The expenses associated with removing natural resources from the earth, such as mining for minerals or drilling for oil.

Quantity of Gold Bars

The total number or amount of gold bars, often measured in terms of weight or units in a specific context.