The answer is C) <span>The economy took a downturn because of overproduction, declining stock markets, and deflation
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The Panic started due to economic problems in Europe, which reached the United States and impacted the The Northern Pacific Railway company, which then had an impact on government debt and eventually the failure of several banks.
Eventually, a chain reaction was created where jobs were lost, factories shut and a surge in unemployment.
The events started from the crashing of the Vienna Stock Exchange and eventually led to economic downturn in the great British Empire and the closure of the New York Stock Exchange for 10 days.
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The main reason is that the North wasn't as agricultural so they didn't need slaves working the fields they where more mercantilist ( an economic system used to boost the nation's wealth using trade.)
Answer: I believe its true.
You might want more than my answer to confirm but again, I believe its true
Explanation:
