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 in Europe
C) governments in South America
D) Asian productivity gains

Question

Quizplus · Accepted Answer

One of the major factors of the 2007-2009 financial crisis was the massive amounts of debt taken on by individuals, particularly in the US housing market where easy access to credit led to the formation of housing bubbles and ultimately, defaults on mortgages.

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