Great Recession

1. What was one thing that caused the great recession?

• A. Banks had sold too many mortgage-backed securities than what could be supported by good mortgages.

• B. Not enough Houses

• C. Banks did not sell enough mortgage backed securities.

2. When was the great recession?

• A. 1999

• B. 2005

• C. 2008

• D. 2010

3. How long did the great recession last for?

• A. 12 months

• B. 15 months

• C. 18 months

• D. 20 months

4. Which of the following typically rises during a recession?

• A. Unemployment

• B. Average income

• C. Production

• D. Stock prices

5. Could the recession happen again?

• A. Yes

• B. No

6. How much did the economy shrink during this time?

• A. 3 percent

• B. 2 percent

• C. 10 percent

• D. 5 percent

7. What was a huge part of the great recession?

• A. crash of the real estate market

• B. crash of food market

8. What's a recession?

• A. a very sad moment

• B. a very happy moment

• C. a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.

9. In the 1970s, several countries in the Middle East decided to pump less oil from their oil wells. Oil is often made into gasoline. What happened to the world's overall supply of gasoline?

• A. The supply went up

• B. The supply went down

10. Last year, taxes went up by $100 per person in Dover. What probably happened to overall demand for goods and services in Dover?

• A. The demand probably went up

• B. The demand probably went down