Who Was Responsible for the Financial Crisis of 2007-2009

question 82

Multiple Choice

Who was responsible for the financial crisis of 2007-2009?

• A)The U.S.Federal Reserve, for its policy of easy money
• B)The U.S.government, for pushing banks to expand credit for low-income housing
• C)bankers, who aggressively promoted and resold subprime mortgages
• D)The U.S.Federal Reserve, the U.S.government, rating agencies, and bankers

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Definitions:

Services

Economic activities that provide intangible benefits or goods, such as healthcare, education, and entertainment.

Manufacturing

The process of converting raw materials or components into finished goods using tools, human labor, machinery, and chemical processing.

Export Promotion

A government strategy aimed at encouraging local producers to sell their goods and services abroad.

Import Substitution

An economic policy that aims to replace foreign imports with domestic production, often through the use of tariffs, quotas, and other trade barriers.