Studied by 0 people
Looks like no one added any tags here yet for you.
what happened during the 2008 Financial Crisis?
lax loans regulations and rising house prices led to a housing crisis that led to bank failure
What happened to the AD curve?
it moved left due to lower output and higher unemployment
What happened to price level?
reduced demand lowered prices, though deflation was limited because central bank interventions like interest rate cuts and quantitative easing
;;;
Note 
Flashcard (30)