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Great Recession

Test your knowledge about the Great Recession, a severe economic downturn that began in 2008 and lasted until 2009.

15 Questions Published
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Questions

Question 1 Multiple Choice (Single Answer)

When did the Great Recession begin?

  1. 2007
  2. 2008
  3. 2009
  4. 2010
Question 2 Multiple Choice (Single Answer)

What was the main cause of the Great Recession?

  1. The collapse of the housing market
  2. The subprime mortgage crisis
  3. The failure of Lehman Brothers
  4. All of the above
Question 3 Multiple Choice (Single Answer)

How many jobs were lost during the Great Recession?

  1. 8 million
  2. 10 million
  3. 12 million
  4. 14 million
Question 4 Multiple Choice (Single Answer)

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

  1. 10%
  2. 12%
  3. 14%
  4. 16%
Question 5 Multiple Choice (Single Answer)

How long did it take for the economy to recover from the Great Recession?

  1. 2 years
  2. 4 years
  3. 6 years
  4. 8 years
Question 6 Multiple Choice (Single Answer)

What was the total cost of the Great Recession to the U.S. economy?

  1. $1 trillion
  2. $2 trillion
  3. $3 trillion
  4. $4 trillion
Question 7 Multiple Choice (Single Answer)

Which country was the first to experience a recession in 2008?

  1. United States
  2. United Kingdom
  3. Germany
  4. Japan
Question 8 Multiple Choice (Single Answer)

Which country was the last to recover from the Great Recession?

  1. United States
  2. United Kingdom
  3. Germany
  4. Japan
Question 9 Multiple Choice (Single Answer)

What was the name of the U.S. government program that provided financial assistance to banks and other financial institutions during the Great Recession?

  1. Troubled Asset Relief Program (TARP)
  2. American Recovery and Reinvestment Act (ARRA)
  3. Federal Deposit Insurance Corporation (FDIC)
  4. Securities and Exchange Commission (SEC)
Question 10 Multiple Choice (Single Answer)

What was the name of the U.S. government program that provided tax cuts and other economic stimulus measures during the Great Recession?

  1. Troubled Asset Relief Program (TARP)
  2. American Recovery and Reinvestment Act (ARRA)
  3. Federal Deposit Insurance Corporation (FDIC)
  4. Securities and Exchange Commission (SEC)
Question 11 Multiple Choice (Single Answer)

Which U.S. President was in office during the Great Recession?

  1. George W. Bush
  2. Barack Obama
  3. Bill Clinton
  4. George H.W. Bush
Question 12 Multiple Choice (Single Answer)

Which U.S. Federal Reserve Chairman was in office during the Great Recession?

  1. Ben Bernanke
  2. Janet Yellen
  3. Alan Greenspan
  4. Paul Volcker
Question 13 Multiple Choice (Single Answer)

What was the name of the U.S. government agency that was created to oversee the financial industry after the Great Recession?

  1. Consumer Financial Protection Bureau (CFPB)
  2. Financial Stability Oversight Council (FSOC)
  3. Volcker Rule
  4. Dodd-Frank Wall Street Reform and Consumer Protection Act
Question 14 Multiple Choice (Single Answer)

What was the name of the U.S. government agency that was created to oversee the financial industry after the Great Recession?

  1. Consumer Financial Protection Bureau (CFPB)
  2. Financial Stability Oversight Council (FSOC)
  3. Volcker Rule
  4. Dodd-Frank Wall Street Reform and Consumer Protection Act
Question 15 Multiple Choice (Single Answer)

What was the name of the U.S. government agency that was created to oversee the financial industry after the Great Recession?

  1. Consumer Financial Protection Bureau (CFPB)
  2. Financial Stability Oversight Council (FSOC)
  3. Volcker Rule
  4. Dodd-Frank Wall Street Reform and Consumer Protection Act
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