All of the following statements are true about the economic depression from 1893 to 1897, EXCEPT:
a. Thanks to careful record keeping in the federal government, we know that the unemployment rate in the manufacturing sector in 1893-1894 was 32 percent.
b. Railroad construction had driven the industrial economy in the 1880s and had slowed by half between 1893 and 1895.
c. With insufficient traffic to pay their fixed costs, railway companies went bankrupt, and so did many of their creditors ? banks and bondholders.
d. The agricultural expansion of the 1880s had slowed down in the 1890s.
ANSWER: a
You might also like to view...
What was President Eisenhower's dynamic conservatism?
A. a combination of corporate reform and personal income tax increases B. an emphasis on New Deal programs with a reduction of business regulations C. an enforced series of moral values and the continuation of the welfare state D. a pro-business agenda and the elimination of New Deal-era welfare state programs
Wang Mang?s efforts to reform and thereby save the Han Dynasty included all of the following EXCEPT
A) forcing the peasants into slavery. B) purchasing government commodities to stabilize prices. C) distributing land to peasant families. D) setting maximum prices for basic commodities. E) issuing new coinage.
Which country is the largest oil producing state in the Middle East?
What will be an ideal response?
After Mexico won its independence from Spain in 1821, it
A. sought cooperative economic and military arrangements with England. B. began planning for war against the United States. C. began selling its northern territories to the United States. D. attempted to close its northern territories to the United States. E. quickly opened its northern territories to trade with the United States.