What was the Great Recession?

B. A military conflict in Europe

C. A political revolution in Asia

What was the primary cause of the Great Recession?

D. Collapse of US real estate market

C. Asian financial crisis spillover

D. Collapse of US real estate market

D. Research on banks & financial crisis

A. Research on behavioral economics

B. Research on climate change and economy

C. Research on poverty alleviation

D. Research on banks & financial crisis

General Knowledge · Economic Crises & Philosophical Movements · page 1 of 1

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1.
What was the Great Recession?
Correct Answer: A. A general economic decline
One-liner
The Great Recession was a general economic decline that began in 2007–2008 and became the most severe global financial crisis since the Great Depression.
2.
In which years did the Great Recession begin and end?
Correct Answer: C. 2007-2009
One-liner
The Great Recession began in 2007 and ended in 2009.
3.
What was the primary cause of the Great Recession?
Correct Answer: D. Collapse of US real estate market
One-liner
The primary cause of the Great Recession was the collapse of the US real estate market, triggered by the subprime mortgage crisis.
4.
Nobel Prize in Economics 2022 is given on:
Correct Answer: D. Research on banks & financial crisis
One-liner
The Nobel Prize in Economics 2022 was awarded to Ben Bernanke, Douglas Diamond, and Philip Dybvig for their research on banks & financial crisis.
5.
In 2023, which major US bank collapsed, triggering fears of a financial crisis?
Correct Answer: D. Silicon Valley Bank
One-liner
In 2023, Silicon Valley Bank (SVB) collapsed, marking the largest US bank failure since the 2008 financial crisis.