Which of the following was believed to have started the global economic crisis of 2008?
A)The absence of depositor insurance
B)Excessive transfer payments made by the government
C)A sudden and sharp increase in oil prices
D)Lack of financial aids to banks
E)A sudden fall in housing prices

Question

Quizplus · Accepted Answer

The sudden fall in housing prices, particularly in the United States, led to the collapse of the housing market, which triggered a chain reaction of defaults and financial losses throughout the world's financial system. This created a global economic crisis starting in 2008.

Which of the Following Was Believed to Have Started the Global