The Global Financial Crisis of 2007-2009 Not Only Led to a Worldwide

question 13

Multiple Choice

The global financial crisis of 2007-2009 not only led to a worldwide recession,but also a ________ in the European nations that use the euro currency.

• A)currency devaluation
• B)budget surplus
• C)sovereign debt crisis
• D)tax cut

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Definitions:

Market Basket

A collection of goods and services considered representative for measuring inflation or the cost of living in an economy.

Price Increase

A price increase refers to a rise in the cost of goods or services, which can affect consumer demand and purchasing power.

CPI

This index, the Consumer Price Index, measures how the average prices of various consumer services and goods, including food, transportation, and healthcare, evolve using a weighted average technique.

Tooth Fairy

A mythical figure in Western cultures that exchanges lost baby teeth for a small payment when placed under a child's pillow.