History Quiz: The Great Recession

What year did the Great Recession officially begin?

• 2005

• 2010

• 2007

• 1999

Which country was hit the hardest by the Great Recession?

• United States

• Brazil

• Germany

• China

What was the primary cause of the Great Recession?

• Housing market bubble and collapse of the subprime mortgage market

• Rise in oil prices and energy crisis

• Stock market crash and bank failures

• Government overspending and high national debt

Which industry suffered the most during the Great Recession?

• Automotive industry

• Technology industry

• Healthcare industry

• Housing and financial industry

What was the unemployment rate at the peak of the Great Recession?

• 15%

• 20%

• 5%

• 10%

Which government agency was created in response to the Great Recession?

• Consumer Financial Protection Bureau (CFPB)

• National Aeronautics and Space Administration (NASA)

• Environmental Protection Agency (EPA)

• Federal Aviation Administration (FAA)

What was the impact of the Great Recession on the housing market?

• Stagnation in home prices, decrease in foreclosures, and increase in new construction

• Sharp decline in home prices, increase in foreclosures, and slowdown in new construction

• No impact on home prices, decrease in foreclosures, and increase in new construction

• Rapid increase in home prices, decrease in foreclosures, and surge in new construction

What was the nickname given to the period of economic decline during the Great Recession?

• Financial Crisis

• Economic Boom

• Golden Age

• Great Recession

Which major financial institution collapsed during the Great Recession?

• Lehman Brothers

• Morgan Stanley

• Goldman Sachs

• JP Morgan Chase

What measures were taken by governments to stimulate the economy during the Great Recession?

• Governments implemented fiscal stimulus packages, monetary policies, and bank bailouts to stimulate the economy during the Great Recession.

• Governments implemented tax cuts for the wealthy

• Governments reduced public spending and increased austerity measures

• Governments increased interest rates to discourage borrowing