Ask Question
20 February, 07:37

One result of the Stock Market Crash of 1929 was the ensuing banking collapse, which cascaded into more than 9,000 American banks that either went bankrupt or closed their doors to avoid bankruptcy between 1930 and 1933 and depositors lost over $2.5 billion in deposits. Group of answer choices True False

+4
Answers (1)
  1. 20 February, 09:22
    0
    TRUE

    Explanation:

    The statement is TRUE

    Between 1930 and 1933 depositors lost over $2.5 billion because of the stock market crash due to which 9000 American banks file bankruptcy or closed there door to protect them from Bankruptcy.

    Because of this result, the nation's money supply decreases which resulted in deflation and the purchasing power of the country decreases.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “One result of the Stock Market Crash of 1929 was the ensuing banking collapse, which cascaded into more than 9,000 American banks that ...” in 📘 Social Studies if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers