Causes of Econcomic Collapse and Recovery
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What led to the collapse of the economic environment within the U.S.? Answer the same question from an international perspective. What is one of the single most important factors to judge whether a country is recovering from the global economic recession?
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Solution Summary
This solution discussed what caused the economic collapse, and the single most important sign of recovery.
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What led to the collapse of the economic environment within the U.S. was the fact that the housing bubble burst. People were asked to pay off their mortgages, but they could not because the banks were increasing the interest rates. As a result, people had to sell their houses at a lower price in order to survive. This made life difficult for the individuals, but easier for the banks ...
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