The Panic of 1837 was a financial crisis in the United States that touched off a major recession that lasted until the mid-1840s. Profits, prices, and wages went down while unemployment went up. Pessimism abounded during the time. The panic had both domestic and foreign origins. Speculative lending practices in western states, a sharp decline in cotton prices, a collapsing land bubble, international specie flows, and restrictive lending policies in Great Britain were all to blame. On May 10, 1837, banks in New York City suspended specie payments, meaning that they would no longer redeem commercial paper in specie at full face value. Despite a brief recovery in 1838, the recession persisted for approximately seven years. Banks collapsed, businesses failed, prices declined, and thousands of workers lost their jobs. Unemployment may have been as high as 25% in some locales. The years 1837 to 1844 were, generally speaking, years of deflation in wages and prices. Hope this helps.
Answer:
<em>Competitive Advantage
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Explanation:
Competitive advantages <em>are factors that allow a business or nation to manufacture an equal value product or service at a reduced price or in a more favorable manner.</em>
BMW offers maintenance and service programs at a cheaper, at this case free, rate.
Such factors allow the competitive company to produce more revenue or higher margins than its competitors on the market.
Competitive advantages are traced to a number of different factors such <em>as pricing structure, marketing, product range performance, distribution system, intellectual property, and customer support.</em>
The answer is <span>Reappraisal, or Cognitive restructuring
</span><span>Reappraisal, or Cognitive restructuring is often very useful for individuals who want to improve their perspective in seeing a certain problem.
</span><span>Through the restructuring process, individuals could see the problems that lie ahead of them as a challenge to improve themselves rather than something that could destroy their life.
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Social customs differ from one community or region to another because it is q method of discrimination against girls as well as people of different colours and religion.
Answer:
Correct answer is Sheets of lightning terrified the Northumbrian people.
Explanation:
Sheets of lightning terrified the Northumbrian people is correct answer because obviously this refers to fear that people had from nature and didn't understand certain things. Storms and lightnings were so devastating that people even that this was a work of dragons.
Of course, all other options are wrong as they are not explaining the natural causes of this disaster.