The 2007-2009 Recession Was Caused By

question 56

Multiple Choice

The 2007-2009 recession was caused by:

• A) an increase in demand following a rapid increase in the money supply.
• B) a drop in aggregate supply caused by a slowdown in productivity growth.
• C) a decrease in supply caused by an increase in oil prices.
• D) a decrease in aggregate demand triggered by a financial crisis.

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Definitions:

Durkheim

A foundational figure in sociology who studied the social basis of human behavior and the role of social institutions in maintaining societal cohesion.

Mechanical Solidarity

Describes early societies based on similarities and independence.

Anomie

A state of normlessness where society fails to effectively regulate the expectations or behaviors of its members, often resulting in social instability and disintegration.

Collective Conscience

A set of shared beliefs, values, and moral attitudes that operate as a unifying force within society, according to Emile Durkheim.