What did credit have to do with great depression?

1 answer:

5 0

Credit is essentialy a loan given that is paid back with interest. Arguably, credit caused the Great Depression. Many Americans invested in the stock market with credit when they did not have the money, so when a recession in the stock market occurred, many stockholders were in huge debt. Banks that lended money were out of money, and depositors lost money. This caused homes to foreclose, and because of the decrease in consumer purchasing power (people were in debt), companies laid off workers and unemployment rose.

You might be interested in

Which change took place in Texas politics after World war ll

nirvana33 [79]

i would say that it would be B

5 0

3 years ago

What did august Caesar hire people to do

madreJ [45]

Answer:

Augustus brought peace (“Pax Romana”) to the Greco-Roman world. In 27 BCE he nominally restored the republic of Rome and instituted a series of constitutional and financial reforms that culminated in the birth of the principate. As princeps of Rome, Augustus enjoyed enormous popularity.

8 0

3 years ago

Which of the following statements best describes diversity in sub-Saharan Africa?

CaHeK987 [17]

Answer:

The answer is A) There are hundred of ethnic groups and more than a thousand languages are spoken

Explanation:

6 0

3 years ago

Read 2 more answers

List three ways in which the expeditions were similar

AysviL [449]

All the expeditions were because their country's needed to find new land to conquer. They all were after more land so they could have power over the people that lived there. They also had expeditions to discover new places and to study the world.

6 0

3 years ago

After what ancient cultures did the renaissance try to model themselves

Simora [160]

The Ancient Greeks and Romans

8 0

3 years ago