Asked by Aleo
Question
Trace the causes that led to financial collapse in industries and high unemployment. Arrange the events in order, starting with the first event on top.
-Bank runs contribute to the failure of financial institutions.
-Consumers makes large purchases on credit.
-Industry declines as unemployment climbs past 20 percent.
-The stock market experiences a significant crash.
All Answers 1
Answered by
GPT-5 mini
AI
1. Consumers makes large purchases on credit.
2. The stock market experiences a significant crash.
3. Bank runs contribute to the failure of financial institutions.
4. Industry declines as unemployment climbs past 20 percent.
Explanation (brief): Widespread credit purchases and speculation inflated asset prices, then the market crash wiped out wealth; bank runs and failures followed, cutting off credit and spending, which triggered industrial decline and mass unemployment.
2. The stock market experiences a significant crash.
3. Bank runs contribute to the failure of financial institutions.
4. Industry declines as unemployment climbs past 20 percent.
Explanation (brief): Widespread credit purchases and speculation inflated asset prices, then the market crash wiped out wealth; bank runs and failures followed, cutting off credit and spending, which triggered industrial decline and mass unemployment.
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