The Great Recession of 2008 Quiz

What were some of the factors that precipitated the Great Recession of 2008?

• 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

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

• Forgave the loans and absorbed the losses

• Bundled them into securities and sold them

• Increased the interest rates to recover the money

• Sued the borrowers for defaulting on the loans

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

• High economic growth

• Low unemployment numbers

• Economic weakness

• Stable financial markets

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

• The celebration of restraint within a normative framework of acquisition

• The absence of any contradiction in capitalist culture

• The complete rejection of acquisition in society

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

What is the historical connection between capitalism and moral discourse?

• Capitalism has been both praised and condemned by different societies

• Capitalism has always been morally praised by all societies

• Capitalism has never been associated with moral discourse

• Capitalism has always been morally condemned by all societies

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

• Public opinion became more positive

• Public opinion remained the same

• Public opinion became indifferent

• Public opinion became more negative

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

• Wall Street

• Political leaders

• The state

• Large corporations and banks

When did the recession that began in 2008 officially end?

• December 2009

• June 2009

• December 2008

• June 2008

What is the implicit assumption of all capitalist societies?

• Acquisition is discouraged in capitalist societies

• Only the wealthy are allowed to acquire resources

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

• The government controls all acquisition in capitalist societies

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

• Engaging in excessive consumption

• Publicly displaying wealth and possessions

• Avoiding conspicuous consumption

• Avoiding philanthropy and charity