The recession of 2008, caused by the housing bubble, was:

A) a mild recession, similar to the recession of 2001.
B) a strong recession but not as deep as the recession of the early 1980s.
C) the worst recession since the Great Depression.
D) not compared in magnitude or depth to other recessions.

Recession Of 2008

A severe global economic downturn triggered by the collapse of the housing market and financial institutions, leading to widespread job losses and economic instability.

Housing Bubble

A situation in the real estate market where house prices are driven to levels way beyond their true values due to excessive demand, speculation, or unsustainable economic factors, eventually leading to a sharp decline.

Great Depression

A severe worldwide economic downturn that took place during the 1930s, marked by significant declines in industrial production, widespread unemployment, and deflation.