The 2007 Subprime Crisis Spread Easily Because

question 71

Multiple Choice

The 2007 subprime crisis spread easily because

• A)the United States is an important economy.
• B)banks in other countries had purchased assets that depended on the U.S. housing market.
• C)there was speculation against the U.S. dollar.
• D)the Fed failed to act at the right time.

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Definitions:

Iron-Oxide Mineral

A mineral composed primarily of iron and oxygen, often found in the form of hematite or magnetite, significant in various industrial applications.

Hematite

A reddish-black mineral composed of iron oxide, often used as an iron ore.

Basalt

A dark, fine-grained volcanic rock that is low in silica content.

Orbiting Spacecraft

Orbiting spacecraft are human-made vehicles or satellites that revolve around Earth or other celestial bodies, utilized for communication, research, and observation.