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Which of the following was a characteristic of economic panics in the early 1800s?
(1 point)
protective tariffs
a declining agricultural economy
the boom-and-bust cycle of capitalism
rapid industrialization
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the boom-and-bust cycle of capitalism
Economic panics like those in 1819 and 1837 reflected speculative booms followed by sharp contractions—classic boom-and-bust cycles.
Economic panics like those in 1819 and 1837 reflected speculative booms followed by sharp contractions—classic boom-and-bust cycles.
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