The Great Moderation consensus was shattered by:
A) the Great Recession.
B) the Great Depression.
C) the Second World War.
D) the Panic of 1907.

Question

Quizplus · Accepted Answer

The Great Moderation consensus, which held that the economy had become more stable and less prone to macroeconomic shocks, was shattered by the onset of the Great Recession in 2008. This led to a re-evaluation of the factors that contributed to macroeconomic stability and the role of government in regulating the economy.

The Great Moderation Consensus Was Shattered By