The 2008 recession/financial crises one of the worst of its kind in a generation. Major economies including the United States and the UK suffered a period of recession, consistent low-growth, rising unemployment and many businesses closing down.
A 10-member committee called the Financial Crisis Inquiry Commission was setup by the US government to study the causes of the recession, in the hopes that a future similar crisis could be prevented.
In 2011, the committee released their findings and pointed out the two major reasons for the crisis:
1. The basic reason for the crises as the Collapse of the housing market.
2. Which in turn was fueled by toxic mortgages, low-interest and easy credit available to everyone and minimal regulation.
The report also pointed out vast problems of corporate governance, lack of government will and unpreparedness.
Answer:
C. Stock Market Crash
Explanation:
The Stock Market Crash of 1929 which was then worsened by the 1930s Dust Bowl (a huge dust storm that destroyed crops and brought severe drought).
Answer:
Cuneiform was first developed to record economic transactions and trade.
Explanation:
Answer:
A group of countries that agree on prices for all goods exported from Europe.
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Answer:
According to Ms. Malloy, what percentage of legal cases in the US are resolved by pleas, not trials? 97% of the legal cases. 7.
Explanation:
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