The Great Recession of 2007-2009 was caused by: Group of answer choices   Excessive government spending on defense and foreign wars in Iraq, Afghanistan, and other parts of the world.   Sub-prime mortgage loans without down payments and income verification made by U.S. financial institutions to non-credit worthy lower-income individuals who could not pay back their mortgage loans.   Sharp cutbacks in government spending resulting from a fiscal restraint aimed at balancing the Federal Budget.   High fuel costs are caused by a disruption in the supply of oil and an increase in the price of oil.

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