The Great Recession of 2008 Flashcard

Front

What were some of the factors that precipitated the Great Recession of 2008? Options: Government regulations and increased employment, Rising stock market and increased consumer spending, Falling housing prices and bad mortgage loans, Stable economic markets and successful businesses

Back

Falling housing prices and bad mortgage loans

Front

What did lenders do with the loans they made to people who should not have taken them?

Back

Bundled them into securities and sold them

Front

What is the historical connection between capitalism and moral discourse?

Back

Capitalism has been both praised and condemned by different societies

Front

What is the implicit assumption of all capitalist societies?

Back

All participants can acquire as much as they can within the limits of the law.

Front

What is one of the ways to avoid being labeled as 'greedy' in a capitalist society?

Back

Avoiding conspicuous consumption

Front

Who played the major role in trying to resolve the 2008 global financial crisis?

Back

The state

Front

When did the recession that began in 2008 officially end? Options: December 2009, June 2009, December 2008, June 2008

Back

June 2009

Front

What happened to public opinion about large corporations and banks after one year of the recession?

Back

Public opinion became more positive

Front

What persisted in the first 4 years of recovery from the 2008 global financial crisis?

Back

Economic weakness

Front

What is the central cultural and most enduring contradiction of capitalism?

Back

The celebration of acquisition within a normative framework of restraint of such acquisition