Question

When the US housing market crashed in 2008, the effect was felt worldwide. This kind of monetary connection can best be described as a(n) __________ connection. A. cultural B. economic C. industrial D. political

Answer 1

The answer is B: economic.

The economic recession that began through poor banking practices in the USA was spread worldwide revealing an intricate economic and globalized connection between all countries of the world that go far beyond the housing market. This revealed that if a country´s market crashes, especially one as powerful as that of the USA, other countries´ markets and economies will also take a dive since capital has ceased to be delimited by geographical or physical borders and is now rather globalized.  

Answer 2

It was an economic connection too many new first time house buyers bought new homes on credit they did not have <span />