The Great Recession is remembered by most economists as a period of
A)hyperinflation.
B)high rates of unemployment.
C)price controls and low inflation.
D)the inability of the Federal Reserve to assist the financial system.

Question

Quizplus · Accepted Answer

The Great Recession is remembered as a period of high rates of unemployment. This was due to the collapse of the housing market which led to a decrease in consumer spending and business investment. As a result, many companies laid off workers and were unable to hire new ones, leading to high levels of unemployment.

The Great Recession Is Remembered by Most Economists as a Period