Asked by Reyna Nava Sanchez on Jun 10, 2024
Verified
The most severe recession since WWII was in
A) 1973-1975.
B) 1981-1982.
C) 2007-2008.
D) 1991-2001.
Severe Recession
An intense period of economic decline, marked by significant drops in economic activity, employment, and consumer spending across multiple sectors.
WWII
World War II, a global conflict that lasted from 1939 to 1945, involved most of the world's nations, and was marked by significant battles across Europe, Asia, and the Pacific.
- Attain insight into the critical components influencing the levels of inflation and unemployment.
- Recognize the eras of major economic transformations after 1945.
Verified Answer
KA
Katherin AfanadorJun 17, 2024
Final Answer :
C
Explanation :
The 2007-2008 recession, also known as the Great Recession, was the most severe recession since WWII. It was characterized by widespread unemployment, a severe contraction in credit, and a sharp downturn in global trade. The other options listed were also significant recessions, but not as severe as the Great Recession.
Learning Objectives
- Attain insight into the critical components influencing the levels of inflation and unemployment.
- Recognize the eras of major economic transformations after 1945.