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Keep in mind the financial crisis of 2007/2008 when answering the question. - The failure of the sub-prime market triggered a damaging financial crisis and
Keep in mind the financial crisis of 2007/2008 when answering the question.
- The failure of the sub-prime market triggered a damaging financial crisis and a very deep recession even though the overall size of this market relative to US GDP was relatively small. Give a brief explanation of how the fall in house prices contributed to the credit crunch that had such a damaging effect on the world economy.
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