Question: How many people live below the poverty line in Bangladesh?
Answer: 300,000

Question: What does Bruno Wenn of the German DEG recommend to attract new investors?
Answer: sound economic policymaking and good governance

Question: According to Overseas Development Institute, what is one reason for the reduction in growth in developing countries?
Answer: falls in trade

Question: What area of the world was less severely affected by the credit crunch according to The World Bank report In February 2009?
Answer: Arab World

Question: What does the abbreviation FDI stand for?
Answer: Foreign Direct Investment

Question: Arab countries entered the financial crisis in exceptionally strong positions giving them a cushion against this?
Answer: global downturn

Question: What will have the greatest impact on the global economic crisis?
Answer: lower oil prices

Question: What is the single most important determinant of economic performance?
Answer: oil prices

Question: What was the U.S. unemployment rate in October 2009?
Answer: 10.1%

Question: What was the average hours per work week in October 2009?
Answer: 33

Question: What was the annual rate of decrease for the output of goods and services produced by labor and property in 4Q 2008 and 1Q 2009?
Answer: 6%

Question: The U.E. employment rate was 10.2% in October 2009, which was the highest rate since what year?
Answer: 1983

Question: The decline of gross domestic product also caused a decline in innovation, evidenced by the flat-lining of what?
Answer: patent applications

Question: Critics argue that Basel III doesn't address which problem?
Answer: faulty risk-weightings

Question: What term describes creating risk-free assets out of high risk collateral?
Answer: financial engineering

Question: What did European regulators introduce to increase the oversight of banks?
Answer: Basel III regulations

Question: Who argued that regulations led to excessive lending to risky governments?
Answer: Johan Norberg

Question: What was increased by Basel III regulations?
Answer: capital ratios

Question: When did the U.S. recession that began in December 2007 end?
Answer: June 2009

Question: When did the financial crisis appear to have ended?
Answer: June 2009

Question: When does the United States Financial Crisis Inquiry Commission date the crisis to?
Answer: 2008

Question: What was the name of the article that appeared in TIME magazine in April 2009 declaring the crisis over?
Answer: More Quickly Than It Began, The Banking Crisis Is Over."

Question: On what date did President Barack Obama declare that the markets are stabilized?
Answer: January 27, 2010

Question: Who led global economic growth after the financial crisis?
Answer: "emerging" and "developing" economies

Question: How much global GDP did emerging and developing economies account for from 2007 to 2014?
Answer: 69%

Question: What relationship between advanced and emerging/developing was completely overturned by the financial crisis of 2007?
Answer: global economic growth

Question: How much global GDP did "advanced" economies account for from 2007 to 2014?
Answer: 31%

Question: What economies led global economic growth prior to the financial crisis?
Answer: Advanced economies

Question: Who believed that the growth of the commercial real estate bubble indicated that U.S. housing policy was not the cause of the crisis?
Answer: Krugman

Question: When did Xudong An and Anthony B. Sanders issue a report about commercial mortgage-backed securities?
Answer: December 2010

Question: According to business journalist Kimberly Amadeo, when did the first signs of decline in real estate occur?
Answer: 2006

Question: What are CMBS?
Answer: commercial mortgage-backed securities

Question: According to most analysts, what crisis took place after the crisis in residential real estate?
Answer: the crisis in commercial real estate

Question: What is one investment assigned safe ratings by the credit rating agencies?
Answer: collateralized debt obligation

Question: How much was invested worldwide in fixed income investments?
Answer: $70 trillion

Question: How much did the pool of money invested worldwide in fixed income investments grow in size from 2000 to 2007?
Answer: roughly doubled in size

Question: What is an example of a product Wall Street invented to answer the demand for income generating investments?
Answer: mortgage-backed security

Question: In the 2000s, investors were seeking higher yields than those offered by this investment?
Answer: U.S. Treasury bonds

Question: What is the name of the securities that enabled financial institutions to obtain investor funds to finance subprime?
Answer: collateralized debt obligation

Question: What was the outcome of collateralized debt obligations?
Answer: extending or increasing the housing bubble

Question: What type ratings did securities first in line receive from rating agencies?
Answer: investment-grade ratings

Question: What type pool do collateralized debt obligations place their payments from mortgages into?
Answer: single pool

Question: What securities had lower credit ratings but potentially a higher rate of return?
Answer: Securities with lower priority

Question: How much had average U.S. housing prices declined by September 2008?
Answer: over 20%

Question: When was the peak of U.S. housing prices?
Answer: mid-2006

Question: How many foreclosure proceedings were initiated by lenders in 2007?
Answer: nearly 1.3 million

Question: What was the percentage increase on foreclosure proceedings from 2007 to 2008?
Answer: 81%

Question: How many U.S. mortgages were either delinquent or in foreclosure by September 2009?
Answer: 14.4%

Question: Was was the federal funds rate target lowered to by the Federal Reserve in 2003?
Answer: 1.0%

Question: What is one reason the Federal Reserve lowered the federal funds rate target to 1.0% in 2003?
Answer: to combat a perceived risk of deflation

Question: In the early 2000s, what type bubble did some economists believe the Fed needed to create to replace the Nasdaq bubble?
Answer: a housing bubble

Question: What contributed greatly to the severity of the financial crisis of 2007?
Answer: excessive credit growth

Question: What encouraged borrowing from 2000 to 2003?
Answer: Lower interest rates

Question: Per Bernanke, how much did the U.S. current account deficit increase between 1996 and 2004?
Answer: $650 billion

Question: What percentage of GDP was the U.S. current account deficit in 2004?
Answer: 5.8%

Question: What emerging economies did the U.S. borrow money from between 1996 and 2004 to finance its imports?
Answer: Asia and oil-exporting nations

Question: What type account is needed by the U.S. to balance an account deficit?
Answer: capital account

Question: Where did the U.S. obtain capital to finance its imports?
Answer: foreign funds

Question: When did the Fed begin raising Fed funds rate significantly?
Answer: July 2004

Question: What does ARM stand for:
Answer: adjustable-rate mortgage

Question: How do asset prices generally move in relation to interest rates?
Answer: inversely

Question: Beginning in July 2004, what did the Fed do to make ARM rates more expensive for homeowners?
Answer: raised the Fed funds rate

Question: How did U.S. housing and financial assets react to the housing bubble burst?
Answer: dramatically declined in value

Question: Richard M. Bowen III testified to the Financial Crisis Inquiry Commission regarding his tenure at which financial institution?
Answer: Citigroup

Question: How many underwriters was Richard M. Bowen III responsible for at Citigroup?
Answer: 220

Question: What percent of mortgages purchased by Citigroup in 2006 were defective?
Answer: 60%

Question: In 2006, how many mortgage companies were contractually responsible to meet Citi's standards?
Answer: 1,600

Question: During 2007, what was the percent of defective mortgages not underwritten to Citi's standards?
Answer: over 80%