During the banking crisis in the early 1930s approximately _____ of the banks in the United States failed.
A)2%
B)10%
C)40%
D)90%

Question

Quizplus · Accepted Answer

During the banking crisis in the early 1930s, approximately 40% of the banks in the United States failed due to a combination of factors including over-speculation, stock market crash, and a lack of government regulation. This led to widespread panic and bank runs as individuals rushed to withdraw their savings, further exacerbating the crisis. The government eventually implemented a number of measures, including the creation of the Federal Deposit Insurance Corporation (FDIC), to restore confidence in the banking system and prevent future collapses.

During the Banking Crisis in the Early 1930s Approximately _____