Which of the Following Describes the Cycle of Events That

Multiple Choice

Which of the following describes the cycle of events that led up to the economic crisis in the United States in 2008?  

A)  Demand for houses decreased, which lowered housing prices, which in turn fuelled a boom in subprime loans. 
B)  Demand for housing decreased, which raised housing prices, which in turn fuelled a boom in subprime loans. 
C)  Demand for housing increased, which lowered housing prices, which in turn fuelled a boom in subprime mortgages. 
D)  Demand for housing increased, which raised housing prices, which in turn fuelled a boom in subprime loans.