Financial crisis 2007
Quiz by Danielle Dawson
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20 questions
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- Q1What was one of the main triggers of the financial crisis in 2007?Rising oil pricesHigh unemployment ratesSubprime mortgage lendingIncreased interest rates30s
- Q2Which financial institution was at the center of the 2007 crisis and filed for bankruptcy in September 2008?Lehman BrothersJPMorgan ChaseBank of AmericaGoldman Sachs30s
- Q3What was a common consequence of the financial crisis in 2007 for individuals and families?Expansion of creditHigher wages for workersLower tax ratesIncreased foreclosures on homes30s
- Q4What term is used to describe the widespread loss of confidence in financial institutions during the 2007 crisis?Economic recoveryMarket boomBank panicCredit expansion30s
- Q5Which government response was implemented to stabilize the economy during the 2007 financial crisis?Affordable Care ActNew DealAmerican Recovery and Reinvestment ActTroubled Asset Relief Program (TARP)30s
- Q6What role did credit default swaps play in the 2007 financial crisis?They guaranteed high returns on investmentsThey simplified mortgage applicationsThey contributed to the risk of financial institution failuresThey lowered interest rates for borrowers30s
- Q7What was a major impact of the financial crisis on the global economy?A surge in stock marketsExpansion of housing marketsIncreased consumer spendingRecession and economic downturns in multiple countries30s
- Q8What was the primary cause of the housing bubble that contributed to the financial crisis of 2007?Excessive lending and risky mortgagesDecreased demand for homesLow property taxesGovernment regulations30s
- Q9Which of the following was a significant effect of the 2007 financial crisis on employment?Higher wages across industriesGreater job securityIncreased job opportunitiesRising unemployment rates30s
- Q10What was one of the major factors that led to the deregulation of the banking industry prior to the 2007 financial crisis?Introduction of new regulationsFormation of credit unionsStricter lending standardsRepeal of the Glass-Steagall Act30s
- Q11What factor primarily triggered the financial crisis of 2007?Increased government spendingThe collapse of the housing bubbleA surge in technology stocksThe rise in oil prices30s
- Q12Which financial institution is often associated with the 2008 market crash due to its bankruptcy?Goldman SachsLehman BrothersCitigroupJPMorgan Chase30s
- Q13What financial product was commonly associated with the risks that led to the 2007 financial crisis?Savings accountsCertificates of depositTreasury bondsSubprime mortgages30s
- Q14What was a major consequence of the financial crisis of 2007?Rise in stock market valuesIncrease in consumer spendingWidespread unemploymentDecreased interest rates30s
- Q15Which government program was introduced in response to the financial crisis to stabilize the economy?NAFTA (North American Free Trade Agreement)Affordable Care ActTARP (Troubled Asset Relief Program)Welfare Reform Act30s