The recession of 2007-2009 probably lasted longer than other postwar recessions because it was associated with a bank-centered financial crisis.

Question

Quizplus · Accepted Answer

The recession of 2007-2009 was indeed associated with a bank-centered financial crisis, which led to a freeze in lending and a contraction in economic activity. This prolonged the recession compared to previous postwar recessions.

The Recession of 2007-2009 Probably Lasted Longer Than Other Postwar