Which of the following was TRUE about the Great Recession of 2007-09?
A)the U.S. government quickly implemented austerity programs
B)monetary and fiscal policy responses to the crisis were implemented too slowly
C)while the unemployment rate rose sharply, long-term unemployment remained steady
D)financial markets froze, making it difficult for businesses to finance inventories
E)none of the above

Question

Quizplus · Accepted Answer

During the Great Recession, financial markets froze, making it difficult for businesses to finance inventories. The other options are false - the U.S. government did not quickly implement austerity programs, monetary and fiscal policy responses were not implemented too slowly, and long-term unemployment did not remain steady.

Which of the Following Was TRUE About the Great Recession