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Sophie [7]
3 years ago
12

11. How did the stock market crash, the closing of the Ford Model T plant and the collapse of the farming

History
1 answer:
never [62]3 years ago
5 0

The stock market crash, the closing of the Ford Model T plant and the collapse of the farming  industry contribute to the economic collapse by destroying jobs, wealth, and American confidence in the economy

Answer: Option C

<u>Explanation:</u>

Great Depression was the worst economic disaster in the history of the United States. During the period of Great Depression, the good produced declined by almost one-third. The stock market lost almost 80% of its value.

Also the unemployment rate rose by almost 25%. During this period, the failure of almost 7000 banks led to the loss of the confidence of people in the economy. The crash of the stock market destroyed a lot of wealth and the reduced money stock of the nation led to the economic disaster.

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The Articles of Confederation formed a weak confederation that united the Thirteen Colonies, with the capacity to govern themselves almost only in times of war and emergencies. Congress could make decisions, but did not have the power to apply them. The biggest setback was the requirement of unanimous approval of the Thirteen states to modify the articles. At the same time, the most important power that Congress lacked was the power to collect taxes: it could only request money from the States. These, for their part, did not always comply with the demands and Congress did not have the necessary funds for its operation.

After the end of the War of Independence and the beginning of new priorities, its limitations became evident. This document was replaced by the Constitution of the United States after its ratification on June 21, 1788.

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