What did the panic of 1893 in the United States and the Swedish banking crisis of 1991 have in common?
A)Each was followed by a period of record high growth rates of real GDP.
B)Both were ended by aggressive monetary policies of the central bank.
C)Each was followed by a deep recession and slow recovery.
D)Both were caused by a real estate bubble.

Question

Quizplus · Accepted Answer

Both the panic of 1893 in the United States and the Swedish banking crisis of 1991 were followed by a deep recession and slow recovery. They were not ended by aggressive monetary policies of the central bank nor were they caused by a real estate bubble.

What Did the Panic of 1893 in the United States