FIN 421 - Financial Crises

FIN 421 - Financial Crises

University

15 Qs

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FIN 421 - Financial Crises

FIN 421 - Financial Crises

Assessment

Quiz

Business

University

Practice Problem

Medium

Created by

Adam Bozman

Used 3+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Homeowners in the bottom 20 percent of the net-worth distribution—the poorest homeowners—had low leverage because banks refused to lend to them.

True

False

Answer explanation

Media Image

Net worth is defined as financial assets + housing assets - any debt.

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

High debt in combination with the dramatic decline in house prices increased the already large gap between the rich and poor in the United States.

True

False

Answer explanation

"The rich stayed rich while the poor got poorer."

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

From 2006 to 2009, large net-worth-decline counties cut back on consumption by almost 60 percent.

True

False

Answer explanation

Media Image

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

The financial crisis of 2007-2009 is also called the Great Depression.

True

False

Answer explanation

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5.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

In an advanced economy, a financial crisis can begin in several ways, including

mismanagement of financial liberalization or innovation which leads to credit boom and bust.

asset pricing booms and busts.

an increase in uncertainty caused by failure of financial institutions.

all of the above.

Answer explanation

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6.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Stage Two of a financial crisis in an advanced economy usually involves a ________ crisis.

currency

stock market

banking

commodities

Answer explanation

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7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Stage Three of a financial crisis in an advanced economy features

a general increase in inflation.

debt deflation.

an increase in general price levels.

a full-fledged financial crisis.

Answer explanation

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