Which event triggered the 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

The recession that began in 2008 was largely triggered by the housing market crisis, in which many homeowners were unable to make their mortgage payments, leading to foreclosures and a decline in housing prices. This in turn had ripple effects throughout the economy, as banks and other financial institutions struggled, businesses were impacted by reduced consumer spending, and unemployment rates increased.

Which Event Triggered the Recession That Began in 2008