Which of the Following Is FALSE About the Financial Crisis

Multiple Choice

Which of the following is FALSE about the financial crisis of 2008?

A) the crisis started in the in the U.S. but had a particularly devastating effect on the economies of Mexico and Canada
B) as it became increasingly difficult to get loans, the financial crisis quickly spread to the goods and labor markets causing economic activity to decline
C) in the recession that followed, the unemployment level in the U.S. hit highs not seen since 1983 and reached its peak only after the recession was officially declared over
D) as financial institutions curtailed their lending activity, even solvent firms experienced severe liquidity problems
E) none of the above