Question

How did the closure of the Second Bank of the United States affect the economy?

Answer 1

The correct answer is B) it led to the Panic of 1837.

The closure of the Second Bank of the United States affected the economy in that it led to the Panic of 1837.

The project of the Second Bank of the United States was passed by Congress in 1832 but President Jackson vetoed the bill. He put the federal government money in small banks. Let's remember that the first Bank in the United States ended in 1811. This situation, as well as the international economic scenario, led to the Panic of 1837, where the country lived an economic recession that ended until 1840. Prices, workers wages, and owners profits dropped. And of course, many people lost their jobs.

Answer 2

B would be the answer to this