The recession in the United States during the period 2007-09 are best explained by changes in fiscal policy.

Question

Quizplus · Accepted Answer

The recession in the United States during the period 2007-09 was primarily caused by the collapse of the housing market and the subsequent financial crisis. While fiscal policy may have played a role in exacerbating the recession or mitigating its effects, it was not the primary cause. Factors such as the subprime mortgage crisis, the failure of major financial institutions, and the global economic downturn were the main drivers of the recession.

The Recession in the United States During the Period 2007-09