Solved

All of the Following Statements Are True About the Economic

Question 60

Multiple Choice

All of the following statements are true about the economic depression from 1893 to 1897, EXCEPT:


A) Thanks to careful record keeping in the federal government, we know that the unemployment rate in the manufacturing sector in 1893-1894 was 32 percent.
B) Railroad construction had driven the industrial economy in the 1880s and had slowed by half between 1893 and 1895.
C) With insufficient traffic to pay their fixed costs, railway companies went bankrupt, and so did many of their creditors − banks and bondholders.
D) The agricultural expansion of the 1880s had slowed down in the 1890s.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents