7. (a) With the help of IS-LM diagrams, compare and contrast the causes of the 2008-2009 Great Recession (or Global Financial Crisis) with the 1930s Great Depression. Limit your answer to 500 words. State the number of words at the end of your answer. (10 marks)

(b) Explain why the Great Recession did not result in the protracted and deeper recession of the 1930s Great Depression. State the number of words at the end of your answer. (6 marks)