The global financial crisis that began in 2008 demonstrated that :
a. Financial bailouts were unnecessary.
b. Canada is insulated from financial crises in other countries.
c. The real estate market is the cornerstone of market stability.
d. There is an ever-widening worldwide income inequality gap.
The correct option is: d. There is an ever-widening worldwide income inequality gap.
Explanation: The global financial crisis that began in 2008 was caused by a variety of factors, including a housing bubble, lax lending standards, and the proliferation of complex financial instruments such as mortgage-backed securities. One of the consequences of the crisis was a widening of the worldwide income inequality gap, as many people lost their homes, jobs, and savings, while others saw their wealth increase. The crisis also demonstrated that financial bailouts and interventions by governments and central banks were necessary to prevent a collapse of the global financial system. Canada was not insulated from the crisis, as its financial sector and economy were also affected by the global downturn. The real estate market was not a cornerstone of market stability, as the housing bubble and subsequent collapse played a significant role in the crisis.