Final answer:
The word "contrite" fits the context of the question regarding chief executives' apologies for the Great Recession. Contrite means feeling remorse, which aligns with the public's expectation for apologies from those responsible for the financial crisis. The correct option is 4.
Step-by-step explanation:
The word that best fills in the blank in the sentence "There has been a fair amount in the news lately about apologies, particularly whether the chief executives of financial institutions have been contrite enough about the role they played in bringing about this recession?" is contrite.
This means feeling or expressing remorse or penitence affected by guilt. The other options: fractious (irritable and quarrelsome), shoddy (of poor quality), and ecumenical (representing a number of different Christian Churches) do not fit the context provided by the student's question about the Great Recession and the apologies required from financial executives for their roles in the crisis.
During the Great Recession of 2008-2009, the mismanagement of the financial system by bankers and financial managers led to a major financial crisis. These events resulted in unemployment, income reduction, and significant economic distress for people in lower income quintiles.
The expectation of contrition arises from the perception that those responsible for the recession are not facing the consequences to the same extent as the general population.