Asked by Amanuel Mengistab on Jul 08, 2024

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Verified

Which statement is false?

A) Had the stock market not crashed and the rest of the world not gone into a depression,the U.S.depression might have been avoided.
B) By the end of 1930 thousands of banks had failed.
C) By the first week in March 1933 every single bank in the United States had shut its doors.
D) None of the statements are false.

Stock Market

A marketplace where stocks (shares of ownership in businesses) are bought and sold, providing companies with access to capital and investors with a slice of ownership.

Depression

A severe and prolonged downturn in economic activity, characterized by significant decline in GDP, high unemployment, falling prices, and reduced levels of trade and investment.

Banks

Financial institutions that accept deposits from the public, make loans, and provide various financial services, including currency exchange and wealth management.

  • Acknowledge significant historical intervals and their repercussions on economic states, including the Great Depression and its resolution.
verifed

Verified Answer

BG
Bailey GrgurichJul 09, 2024
Final Answer :
D
Explanation :
All the statements provided reflect historical facts or plausible scenarios related to the Great Depression. Statement A discusses a hypothetical situation that is widely debated among historians. Statement B is accurate, as thousands of banks did fail by the end of 1930 due to the stock market crash of 1929 and subsequent economic downturn. Statement C is also true, as by early March 1933, a banking panic had led to the closure of all banks in the United States, prompting President Franklin D. Roosevelt to declare a national "bank holiday" to prevent further runs on banks. Therefore, none of the statements are false.