The Two Negative Demand Shocks That Caused the Great Recession

question 74

Multiple Choice

The two negative demand shocks that caused the Great Recession were:

• A)declining housing prices and the 2008 financial panic.
• B)declining housing prices and declining stock prices.
• C)increasing oil prices and the 2008 financial panic.
• D)increasing oil prices and declining stock prices.

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Definitions:

Boil

The process of heating a liquid to the temperature at which it turns to vapor.

Ideal Refrigerant

is a theoretical concept for a substance used in refrigeration that has optimal thermodynamic and physical properties, such as being non-toxic, environmentally friendly, and highly efficient in heat absorption and release.

Non-Combustible

Materials or substances that are incapable of igniting and burning, used in various safety applications to prevent fire.

Boil Temperatures

The temperature at which a liquid turns into vapor, which varies depending on the atmospheric pressure and the liquid's properties.