All of the Following Are True Statements About the Great

question 8

Multiple Choice

All of the following are true statements about the Great Recession that began in 2008 except

• A) Several of the nation's largest banks had overextended themselves and were filing for bankruptcy.
• B) One contributing factor was a large number of housing loans made to unqualified buyers, who defaulted in large numbers.
• C) Businesses stopped expanding and banks held onto their cash reserves, making new loans difficult to obtain.
• D) It had a global effect, as countries such as Spain and Greece watched their economies fail, too.
• E) Unemployment reached a high of 14 percent.