The Global Financial Panic in September 2008 That Led to a Sharp

Multiple Choice

The global financial panic in September 2008 that led to a sharp fall in business investment spending and consumer spending can be viewed as:

A) a sharp decrease in aggregate supply.
B) a sharp decrease in aggregate demand.
C) a sharp decrease in both aggregate supply and aggregate demand.
D) a modest increase in aggregate supply.
E) a modest increase in both aggregate demand and aggregate supply.