As part of the U.S. economy, our banking system's function is to provide individuals with savings accounts, checking accounts, and various loans for homes and businesses. How did the banking system fail, forcing banks to close and individuals to lose their savings, which led to the Great Depression? (1 point)%0D%0AResponses%0D%0A%0D%0ABanks allowed individuals without jobs to open new accounts. %0D%0ABanks allowed individuals without jobs to open new accounts. %0D%0A%0D%0ABanks stopped allowing individuals to open new savings accounts and ran out of money when the Stock Market crashed. %0D%0ABanks stopped allowing individuals to open new savings accounts and ran out of money when the Stock Market crashed. %0D%0A%0D%0ABanks closed because their employees lost their homes due to the Stock Market crash.%0D%0ABanks closed because their employees lost their homes due to the Stock Market crash.%0D%0A%0D%0ABanks loaned individuals money for homes and businesses but ran out of money when those individuals could not pay back their loans after the Stock Market crashed

Answer 1

The correct response is: Banks loaned individuals money for homes and businesses but ran out of money when those individuals could not pay back their loans after the Stock Market crashed.