THE ROARING 20S 1920 1929
1920S AMERICAN CULTURE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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How did bank failures contribute to the Great Depression?
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People gain money on the stock market and prosperity rose in the U.S.
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People lost their money and the government did not insure the banks.
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Banks were relocated to other countries not suffering from the Great Depression.
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Banks promised to pay their loans off if people deposited their money into the banks.
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Explanation:
Detailed explanation-1: -Some banks could not absorb the losses they suffered and had to close. The government did not insure bank deposits, so if a bank failed, customers, including even those who did not invest in the stock market, lost their savings.
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