Explanation:
After the crash, Hoover announced that the economy was fundamentally sound. On the last day of trading in 1929, the New York Stock Exchange held its annual wild and lavish party, complete with confetti, musicians, and illegal alcohol. The U.S. Department of Labor predicted that 1930 would be A splendid employment year. These sentiments were not as baseless as they may seem in hindsight. Historically, markets cycled up and down, and periods of growth were often followed by downturns that corrected themselves. But this time, there was no market correction; rather, the abrupt shock of the crash was followed by an even more devastating depression. Investors, along with the general public, withdrew their money from banks by the thousands, fearing the banks would go under. The more people pulled out their money in bank runs, the closer the banks came to insolvency.
Answer: Qualitative Research
Explanation:
Qualitative Research is the scientific studying technique that is used for collecting, assessing and evaluation non-numerical data and facts.This data is gathered through observation and analysis to perceive about social life of society and people.
It defines the meaning behind behavior, attitude, belied, action etc that is displayed by population in certain place and situation.This research can be done through questioning, informal interviews etc.
