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WorksheetsThe Great Recession
Total questions: 20
Worksheet time: 13mins
How much money did the US government give the auto industry during the great recession?
80.7 billion
50 billion
86.9 billion
25 million
how much money did the US government give banks for bailouts during the great recession.
700 billion
200 million
50 billion
10 billion
How did the banking industry turn the home loans they made into investments for other customers?
They had bank customers loaning their own money to people that weren't really financially qualified to pay back the loans.
They 'bundled' good and bad loans together and told investors that it was a sure money maker because everyone pays back home loans.
They 'bundled' the good loans together and told investors that it was a sure money maker because everyone pays back home loans.
They had bank customers pool their money together to lend to the bank for home loans.
what was one thing that caused the great recession?
Banks had sold too many mortgage-backed securities than what could be supported by good mortgages.
Not enough Houses
Banks did not sell enough mortgage backed securities.
when was the great recession?
1999
2005
2008
2010
Did the market crash in 2008?
Yes
No
Since when did the price of a house steadily increase?
9/11
WW1
WW2
How long did the great recession last for?
12 months
15 months
18 months
20 months
what was a huge part of the great recession?
crash of the real estate market
crash of food market
whats a recession?
a very sad moment
a very happy moment
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.
True or False: The great recession was characterized by shifts in both LRAS and AD.
True
False
Which of the following typically rises during a recession?
Unemployment
Average income
Production
Stock prices
How does the government typically handle taxes and interest rates during a recession?
It raises taxes and lowers interest rates
It lowers both taxes and interest rates
how much money did the federal reserve give to help the subprime mortgage crisis?
29 million
24 billion
50 Billion
did the federal reserve do enough to prevent the great recession?
yes
no
who was president when this happened?
Obama
Trump
Reagan
why did the auto industry get so much money?
to try and get out of the recession
to hire more people
why did the banks get so much money?
to help everyone get out of the recession
to shut down the banks.
Could the recession happen again?
yes
no
How much did the economy shrink during this time?
.3 percent
2 percent
10 percent
.5 percent
