What economic events enabled most countries to escape the Great Recession of 2007-2009?

Question

Quizplus · Accepted Answer

Fiscal policy, particularly through tax cuts and government spending increases, was able to stimulate demand and provide economic relief to countries during the Great Recession. This was especially true for countries like the United States, which implemented significant fiscal stimulus measures under the American Recovery and Reinvestment Act of 2009. Interest rates fell as well, but largely due to central bank intervention, rather than excess savings. Wage rates may have declined, but this was not a widespread or comprehensive phenomenon. Prices did decline during the Great Recession, but this was not sufficient to enable most countries to escape the recession.

What Economic Events Enabled Most Countries to Escape the Great