A major factor in the severity of the 2007-09 financial crisis was the massive reduction in the level 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 2007-09 financial crisis was characterized by a massive increase, not reduction, in debt levels, particularly among individuals and businesses, leading to a credit bubble and subsequent crash.

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