The financial crisis in the U.S. in 2009 was triggered by ____.
A) the global hike in the price of crude oil
B) the slowdown in U.S. imports
C) the problems in the U.S. subprime mortgage lending market
D) the artificial fixing of currency rate by China

Question

Quizplus · Accepted Answer

The financial crisis in the U.S. in 2009 was triggered by the problems in the U.S. subprime mortgage lending market. Banks had lent money to borrowers who were unable to pay back their mortgages, resulting in a high number of defaulted loans and foreclosures. This led to a chain reaction, causing major financial institutions to collapse, and ultimately affecting the global economy. The other options (A, B, and D) were contributing factors to the financial crisis, but not the primary trigger.

The Financial Crisis in the U