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Nadya [2.5K]
3 years ago
10

Summarize the causes and effects of the recession that began in the mid-2000s.

History
1 answer:
Lynna [10]3 years ago
7 0

Also known as the Great Recession, it began around 2006-2007 within the United States and quickly spread to most major economies in the world.

The causes of the Great Recession began in the United States, when a lot of people who were not eligible for mortgage were given loans to buy homes. The US government's through Fannie Mae and Freddy Mac wanted to provide cheap housing for as many people as possible.

Through Big banks, they were able to provide risky loans to as many people as possible. This eventually gave rise to a huge construction boom and Financial institutions in New York and around the world, started to take advantage of this boom and sell more and more financial instruments.

However, as these home owners began to default on their payments, they were forced to give up their homes, consequently disturbing the whole constriction boom and effecting everyone who had invested in these projects.

The exposure was felt around the world as multi-billion hedge funds, investors and huge retirement funds has invested in these.

The stock market crashed, thousands of people went bankrupt and many large companies including Lemming Brothers collapsed after 100 years of operation.

For the next 5 years, most industrialized countries in the world struggled to coupe with the recession. Unemployment rose, countries defaulted, which also effected the retail industry. It took years before business confidence could rise again.

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6 0
2 years ago
The fictional country of kovasia decides to open its market to foreign businesses. what positive and negative effects will kovas
melisa1 [442]

The positive effects helps the growth of Kosavia with the increase of less expensive export, and the negative effects involve the loss of job and the less popularity of the domestic product.

<h3 /><h3>What is foreign business?</h3>

Foreign business has been defined as the trade between the nation the earning the profit by the countries.

Kosavia with the foreign trade may experience the following as the positive effect that helps it to increase its capital:

  • The volume of exports will increase
  • Goods and services may become less expensive.

The foreign business of Kosavia will experience the following  negative effects:

  • Domestic products may become less popular
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Learn more about foreign business, here:

brainly.com/question/17256785

7 0
2 years ago
Eritrea became independent from ______ in 1993.
RoseWind [281]
Eritrea became independent from Ethiopia in 1993


Mark as Brainliest, I hope I have helped, and have a good day!!


8 0
3 years ago
Read 2 more answers
WILL GIVE BRAINLIEST ITS DUE SOON I HAVE A TIMER!!!
WARRIOR [948]
I think the answer is (B). Hope this helps!
3 0
2 years ago
Which modern democratic principle was influenced by the roman legal code that held all citizens responsible for their actions
saveliy_v [14]

Answer:

Corpus Juris Civilis

Explanation:

The Corpus Juris Civilis, drawn up under the strict supervision of king justinian, was a milestone of Roman case law. Corpus Juris Civilis is indeed a magnificent artifact to something like a remarkable period of legislative system.

This scheme aims at clarifying and upgrading the older roman rules, removing contradictions and speeding up legal procedures, gathering royal decrees including expert advice on all sorts of matters, including penalties for particular marital offences and succession.

5 0
2 years ago
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