The 2008-2009 recession began as oil prices increased,and then was followed by a negative demand shock..

Question

Quizplus · Accepted Answer

The 2008-2009 recession was triggered by the collapse of the housing market, which led to a financial crisis. While oil prices did increase prior to the recession, they were not the initial cause of the recession. However, the recession did lead to a negative demand shock as consumer spending and business investment declined.

The 2008-2009 Recession Began as Oil Prices Increased,and Then Was