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Elanso [62]
3 years ago
8

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

History
1 answer:
Arada [10]3 years ago
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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