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

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

Quizplus · Accepted Answer

The massive amounts of debt taken on by individuals, businesses, and governments all contributed to the severity of the financial crisis. Individually, excessive borrowing and subprime mortgages led to a housing bubble and subsequent collapse. Businesses also took on significant debt to finance expanding operations and investments, while governments accumulated debt through stimulative spending and bailout programs. The interconnectedness of these debt burdens created a domino effect that ultimately led to a global financial crisis.

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