What occurred during the 1890s?
A) A U.S. economic expansion that became the longest on record.
B) The economy contracted about half the time, and the unemployment rate topped 18 percent.
C) The outbreak of war boosted employment to fight for the country and to make tanks, ships, aircraft, and the like.
D) Federal spending increased on both the war in Vietnam and social programs at home.
E) Home prices declined and foreclosures rose, as more borrowers failed to make their mortgage payments.

Question

Quizplus · Accepted Answer

The 1890s were marked by economic contraction, with unemployment rates reaching 18 percent. This was largely due to a financial panic in 1893, which led to bank failures, business closures, and a reduction in government spending. The economy only began to recover towards the end of the decade.

What Occurred During the 1890s