AP MacroeconomicsEconomic History & Events
Great Recession
The Great Recession was the deep global downturn of 2007–2009 triggered by a housing and financial crisis.
Collapsing subprime mortgages and the failure of major financial firms froze credit and cut output worldwide. Governments and central banks responded with bailouts, stimulus, and near-zero interest rates plus quantitative easing.
Interactive graph
Business Cycle →
Drag the curves and see it for yourself.
Study module
The Business Cycle →
Full lesson, practice questions, and flashcards.