Which event triggered the recent recession that began in 2008?
A) Consumers were unwilling to purchase electronic equipment.
B) Businesses were unable to make loan payments.
C) Homeowners were unable to make mortgage payments.
D) Renters were unable to find available housing.

Question

Quizplus · Accepted Answer

C) The economic downturn began with a collapse in housing prices, which in turn caused speculating homeowners to be unable to meet mortgage payments. The failure to make payments caused a market crash, a credit crunch, and many other negative events that ultimately resulted in the recession.

Which Event Triggered the Recent Recession That Began in 2008