9. What was a major impact of the National Bank closing?
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1 answer
The closing of the National Bank had a major impact on the economy of the United States. It caused a decrease in the money supply, which led to a decrease in economic activity and an increase in unemployment. It also caused a decrease in the value of the dollar, which led to inflation. Finally, it caused a decrease in the availability of credit, which made it more difficult for businesses to borrow money and invest in new projects.