The global financial crisis of 2008-2009 began as a
A) subprime mortgage crisis in the U.S.
B) exchange rate crisis in Japan
C) corruption crisis in Russia
D) banking crisis in China

Question

Quizplus · Accepted Answer

The global financial crisis of 2008-2009 began as a subprime mortgage crisis in the U.S. This crisis was triggered by the bursting of the housing bubble, which resulted in a sharp decline in home prices and a surge in mortgage defaults. The subprime mortgage crisis quickly spread to other financial markets, causing a global financial crisis that led to a recession in many countries.

The Global Financial Crisis of 2008-2009 Began as a