Asked by
Priyanshi Agarwal
on Dec 13, 2024Verified
The Panic of 1837
A) inspired a more vigorous labor movement in the decade that followed.
B) led to a relatively mild economic downturn that resolved itself by 1839.
C) was exclusively the product of Andrew Jackson's war on the national bank.
D) was caused, in part, by a decline in British demand for American cotton.
E) helped farmers, because the cost of transporting goods to markets fell.
Panic of 1837
A financial crisis in the United States triggered by a speculative fever, leading to bank failures and a deep economic depression.
British Demand
Refers to the economic and political desires of the United Kingdom, particularly in historical contexts concerning trade, territory, and resources.
American Cotton
A key agricultural product of the United States, historically pivotal to the economy, particularly in the Southern states, and a central factor in the history of slavery and industry.
- Familiarize oneself with the social, economic, and political aspects that induce financial panics and recessions, specifically highlighting the Panic of 1837.
Verified Answer
AR
Learning Objectives
- Familiarize oneself with the social, economic, and political aspects that induce financial panics and recessions, specifically highlighting the Panic of 1837.