What did the panic of 1873 and the panic of 1893 have in common?
A)They were both caused by the Federal Reserve's failure to implement the proper monetary policy.
B)They were both caused by a real estate bubble.
C)They both led to large increases in real GDP and decreases in the unemployment rate.
D)They were both caused by overbuilding in the railroad industry.

Question

Quizplus · Accepted Answer

Both the Panic of 1873 and the Panic of 1893 were caused by overbuilding in the railroad industry, which led to excessive speculation and unsustainable investment. This eventually led to a collapse in the stock market and a widespread economic depression.

What Did the Panic of 1873 and the Panic of 1893