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Why did the Great Crash produce a ripple effect throughout the nation’s economy?

Sagot :

Hello, I am BrotherEye

Answer: The logical answer would be

Stocks directly affected only 4 million out of 120 million people. Indirectly:

-Risky loans hurt banks

-Consumer borrowing

-Bank runs

-Bank failures

-Savings wiped out (Banks failures wiped out peoples saving)

-Cuts in production

-Rise in unemployment

-Further cuts in production

Explanation:

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