During the banking panic that occurred in the United States between October 1930 and January 1931, ________.

Name: During the banking panic that occurred in the United States between October 1930 and January 1931, ________.
Brand: Quizplus
Rating: 4.9 (48 reviews)

Question

Quizplus · Accepted Answer

During the banking panic of 1930-31, both currency and demand deposits (ER/D) rose as people withdrew their money from banks. This led to a sharp decline in the money supply, as banks were unable to lend out as much money. Therefore, all of the above choices are correct.

During the Banking Panic That Occurred in the United States