answer the questions for course name financial institutions and markets

Answer the questions completely.

Question 1. Identify and describe the three stages of a financial crisis in an advanced economy and explain why they can cause economic activity to decline.

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Question 2. Identify and describe the stages in regards to the great depression.

Question 3. Identify and describe the stages in regards to the financial recession of 2008.

Important Notes:

– Use your own words.

– Answer the questions completely. ( BUT do not make it too long. 4-5 sentences for each question )