2 years ago

Why did the great crash produce a ripple effect throughout the nation's economy?

1 answer:

6 0

Stocks directly affected only 4 million out of 120 million people. Indirectly:
-Risky loans hurt banks
-Consumer borrowing
-Bank runs
-Bank failures
-Savings wiped out (Banks failures wiped out peoples saving)
-Cuts in production
-Rise in unemployment
-Further cuts in production

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