A major factor in the severity of the 2007-09 financial crisis was the massive increase in the level of debt taken on by:
A) individuals under the age of 25
B) businesses in Europe
C) the U.S. government
D) Asian countries

Question

Quizplus · Accepted Answer

The massive increase in the level of debt taken on by the U.S. government through mortgage-backed securities and other financial instruments played a major role in the severity of the global financial crisis. The government's involvement in the housing market and failure to regulate the banking industry contributed to the economic collapse.

A Major Factor in the Severity of the 2007-09 Financial