Which of the below did NOT happen during the Great Recession of Dec. 2007 - June 2009? Group of answer choices Christina Romer, the then chair of President Obama's Council of Economic Advisers estimated that household wealth increased by 5% between December 2007 and December 2008. Banks had made subprime mortgage loans to overly leaveraged American families who could not make their mortgage payments. The American Recovery and Reinvestment Act (ARRA), or President Obama's Stimulus Bill was enacted in 2009. The investment bank, Lehman Brothers, declared bankruptcy leaving all of its creditors high and dry.
Which of the below did NOT happen during the Great Recession of Dec. 2007 - June 2009? Group of answer choices Christina Romer, the then chair of President Obama's Council of Economic Advisers estimated that household wealth increased by 5% between December 2007 and December 2008. Banks had made subprime mortgage loans to overly leaveraged American families who could not make their mortgage payments. The American Recovery and Reinvestment Act (ARRA), or President Obama's Stimulus Bill was enacted in 2009. The investment bank, Lehman Brothers, declared bankruptcy leaving all of its creditors high and dry.
Chapter12: Business Cycles And Unemployment
Section: Chapter Questions
Problem 5SQ
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Question
Which of the below did NOT happen during the Great Recession of Dec. 2007 - June 2009?
Group of answer choices
Christina Romer, the then chair of President Obama's Council of Economic Advisers estimated that household wealth increased by 5% between December 2007 and December 2008.
Banks had made subprime mortgage loans to overly leaveraged American families who could not make their mortgage payments.
The American Recovery and Reinvestment Act (ARRA), or President Obama's Stimulus Bill was enacted in 2009.
The investment bank, Lehman Brothers, declared bankruptcy leaving all of its creditors high and dry.
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