Which facts represent the economic reality the nation faced in 1933? A. Banks were failing every day. B. People were selling gold at lower prices. C. The government had too much money. D. The economic system was on the verge of collapsing.

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History

Aydan Oliver

9 February, 21:21

Which facts represent the economic reality the nation faced in 1933? A. Banks were failing every day. B. People were selling gold at lower prices. C. The government had too much money. D. The economic system was on the verge of collapsing.

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Humberto Dougherty · Answer 1

The economic system in 1933 was on the verge of collapsing for several reasons. One was because the it became a cultural thing in America to "buy on credit", and spend more money than you had. People were increasingly getting laid off and losing their jobs. Also the Black Tuesday crash of 1929 caused many investors to lose all their money they invested. Many Banks failed in the 1930s, but it wasn't everyday.

The answer is D. The economic system was on the verge of collapsing