A major factor in the severity of the 2007-09 financial crisis was the massive amounts of debt taken on by:
A)individuals
B)business
C)government
D)all of the above
E)none of the above

Question

Quizplus · Accepted Answer

The financial crisis was caused by a combination of factors, including excessive debt taken on by individuals, businesses, and governments. Individuals took on too much debt through the housing bubble, businesses took on too much debt to fund investments and acquisitions, and governments took on too much debt to stimulate their struggling economies. This created a domino effect where defaults and foreclosures led to liquidity issues and a credit freeze, ultimately causing the financial crisis.

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