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.
A
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Indicate whether this statement is true or false.
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