Asked by James Watts on Sep 23, 2024
Verified
The speed at which the economic depression that started in 1873 spread to various financial capitals proved that
A) banks were not a safe place for one's money.
B) banks were not regulated enough.
C) banks were regulated too much.
D) improvements in transportation and communication had created an interconnected global economy.
E) tariffs and protectionism could spare a country from an economic crisis.
Economic Depression
A long-term downturn in economic activity characterized by high unemployment, low consumer spending, and business failures.
Financial Capitals
Cities that serve as major hubs for financial services, banking, and investment, impacting global finance.
- Comprehend the evolution of transportation and its societal implications.
Verified Answer
JW
Julius Wilsonabout 5 hours ago
Final Answer :
D
Explanation :
The speed at which the economic depression of 1873 spread to different financial capitals illustrates that improvements in transportation and communication had created an interconnected global economy.
Learning Objectives
- Comprehend the evolution of transportation and its societal implications.
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