2008 Financial Crisis

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4 Terms

1

what happened during the 2008 Financial Crisis?

lax loans regulations and rising house prices led to a housing crisis that led to bank failure

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2

What happened to the AD curve?

it moved left due to lower output and higher unemployment

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3

What happened to price level?

reduced demand lowered prices, though deflation was limited because central bank interventions like interest rate cuts and quantitative easing

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4

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