During the 1920s, how did credit card debt play a role in causing the Great Depression?

Answers

Answer 1
In the 1920's, many people would purchase things using credit, not having any thought as to how they would pay their debts. When the great depression began, people were unprepared since they already had a lot of debt. Thus, they could not pay back what they owed, causing many businesses to collapse.

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Answer 2

Final answer:

Credit card debt and consumer credit contributed to the Great Depression by creating a fragile economy that could not withstand the strain of defaults and reduced consumer spending, leading to store closures, job losses, and a manufacturing downturn.

Explanation:

The Great Depression was precipitated by a myriad of factors, including the practice of purchasing consumer goods on credit. During the 1920s, a culture of consumerism emerged as mass production made goods more accessible, and credit allowed Americans to buy now and pay later. However, when the economic downturn struck, many households were unable to fulfill their credit obligations, leading to a chain reaction of store closures, job losses, and further economic decline. This credit crunch compounded with issues of overproduction, underconsumption, and unequal wealth distribution, accelerating the economy's collapse. As demand for consumer goods fell, the industrial production that had been so pivotal to '20s prosperity could not be maintained, exacerbating the contraction.

Additionally, rampant speculation and the leveraging of stock purchases through margin buying created a stock market bubble. When this bubble burst, it triggered a sharp decline in economic confidence and further credit tightening, reinforcing the downturn. The subsequent bank runs and financial institution failures erased savings and credit lines, plunging the nation into deeper economic woe. High-risk financial practices like subprime mortgages and overleveraging signaled systemic weaknesses that were only revealed when the economy turned. Thus, credit card debt and associated financial practices were central to the onset and deepening of the Great Depression.


Related Questions

How were the Crusades and the
Reconquista similar? How were they different?

Answers

Well the Reconquiesta and the Crusades were both part of a process of reconquest. For centuries Christians had been loosing territories against the invading Arabs.

In Spain only a few people in the north managed to resist against the Muslim invasion. It is a miracle that these people managed to survive and then reconquer their ancestral country.

The Greek made many important contributions to western civilization. of the four items listed below, which is the most important Greek contribution.

A. the idea that gods can run the universe without people's help or understanding
B. the olympics
C. the idea that the world is orderly and that the humans can understand much about the universe
D. the idea that people should accept things that happen without trying to figure out how they happen

Answers

I think its c- the idea that the world is orderly and that the humans can understand much about the universe....

Answer:

The answer would be c. The idea that the world is orderly and that the humans can understand much about the universe

Explanation:

What was the relationship between the New England colony and Native Americans

Answers

New England colonies got along fairly well with the Native Americans. One example was the Pilgrims that received help from natives during the harsh winter that they would have starved if not for the natives' help
Final answer:

The relationship between the New England colonies and Native Americans shifted from initial cooperation to deep conflict due to land disputes, cultural differences, and the Puritans' attempts to enforce their religious beliefs. Events like the Pequot War and Metacom's War signify the violent turn in relations as the English expansion threatened Native American ways of life.

Explanation:

Relationship Between the New England Colonies and Native Americans

The relationship between the New England colonies and Native Americans was complex and evolved over time. Initially, there was a period of relative peace and cooperation, with figures like Squanto aiding the Pilgrims in agriculture and fishing. However, as the Puritan presence grew with settlements like the Massachusetts Bay Colony, land encroachment and cultural conflicts arose. Puritan attempts to convert Indigenous peoples to Christianity, such as the establishment of 'praying towns' by missionary John Eliot, often met with mixed results.

Conflict and War

Escalating tensions and land disputes led to violent conflicts like the Pequot War and Metacom's War (also known as King Philip's War), which marked a significant deterioration in relations. These wars stemmed from the New Englanders' relentless expansion and disputes over resource control, combined with resentment towards English authority and proselytizing. Although there were instances of Native Americans adopting Christian practices and integrating into colonial societies, they were not wholly accepted by either community, further exacerbating tensions.

Influence of Puritan Ideals

The Puritan ideals of the New England colonists also played a role in their relations with Native Americans. The Puritans' focus on their form of Christianity and their intolerance for other practices often put them at odds with the native populations, who had their spiritual traditions. This cultural chasm widened as more settlers arrived, hungry for land, leading to continued conflict and a struggle for power and survival in the colonies.

What countries have a autocracy,oligarchy,democracy

Answers

Absolute monarchy:Saudi Arabia, the United Arab Emirates, Oman, Brunei and Swaziland and dictatorship:Cuba, China, and North Korea are the main historical forms of autocracy. 

Final answer:

Democracies like the USA involve citizen participation in governance, while oligarchies, exemplified by Russia, are controlled by a select few. Autocracies like Saudi Arabia are under the absolute rule of a single person; however, governance forms can evolve over time.

Explanation:

Types of Government Systems

When we look at different forms of government around the world, we can categorize them into a few types such as democracy, oligarchy, and autocracy. These systems significantly differ from each other based on how power is distributed and exercised within a country.

Democracy

In a democracy, power is vested in the hands of the people. Representative democracies, like the United States, allow citizens to vote for their leaders and have a say in law-making.

Oligarchy

An oligarchy is a system where a few individuals, often from the same political or economic elite, control the government. Modern examples include Russia, which has power concentrated in the hands of oligarchs, or South Africa, where economic power is concentrated within a small segment of the population.

Autocracy

Autocracies are systems where a single person holds absolute power. Saudi Arabia is an example of an absolute monarchy, an autocratic system where the monarch's power is unchecked. Theocratic autocracies, such as Iran, blend religious authority with governance.

However, some nations may have democratic structures in place while still operating as de facto oligarchies.

Why does Adam Smith think that the government should stay out of economic affairs?

Answers

The government stays out of affairs and lets the market mange itself. In this vien, Adam Smith’s “invisible hand” is the idea that there is an invisible force or hand that drives and manages the economy. People who subscribe to this form of economic thought usually favor small government intervention...they think the market will take care of itself and doesn’t need government subsidies, regulation, etc.

Final answer:

Adam Smith advocated for minimal government interference in economic affairs, suggesting that a free market guided by competition and self-interest leads to societal benefits and efficient resource distribution.

Explanation:

Adam Smith believed that government intervention in economic affairs often leads to inefficiencies and high prices due to monopolies and protectionism. He argued that in a laissez-faire or free market economy, competition and self-interest act as an 'invisible hand' guiding economic activities. Smith asserted that if individuals are free to pursue their own interests, it will lead to the production of goods and services most needed by society, effectively meeting the demands of consumers while also promoting progress and prosperity.

This idea contrasts with mercantilism, which suggests that wealth comes from maintaining a trade surplus, often through government-enforced trade barriers. Smith's philosophy laid the groundwork for the current liberal economic practices, advocating for the importance of science, rational choice theory, and individual freedom in facilitating economic development.

What does america have that the settlers hoped to get

Answers

Freedom, however, America really isn't the only country in the world that has freedom, but at that time, many settlers were just interested in that.

Answer:

Explanation: America has as its main axis to be considered as a new land, where freedom prevails, as well as free belief important aspects that the colonists hoped to obtain, since through this one their own character and identity were printed, notorious aspects in the inhabitants of the United States through history and that were clearly reflected in the multiple benefits, such as a better quality of life and the land properties they achieved with the fruit of their work.

What was one major difference between the Declaration of the Rights of Man and of the Citizen and Olympe de Gouges's version, the Declaration of the Rights of Woman and of the Female Citizen? A. De Gouges's Declaration of the Rights of Woman criticized Enlightenment ideals rather than embracing them. B. De Gouges's Declaration of the Rights of Woman was never published in France because of gender bias. C. De Gouges's Declaration of the Rights of Woman inspired French leaders to launch major political reforms. D. De Gouges's Declaration of the Rights of Woman was unpopular among French revolutionaries.

Answers

D. De Gouges's Declaration of the Rights of Woman was unpopular among French revolutionaries. (APEX)

D. De Gouges's Declaration of the Rights of Woman was unpopular among French revolutionaries.

Explanation:

how do the Senate's unique formal and informal requirements support the notion that is a more exclusive body than the house

Answers

How do the senate´s unique and formal and informal requirement support the notion that it is a more exclusive body than the House?-Informal requirements: at least 30 years, citizen of the U.S for 9 years, be resident of the state representative
-Formal: upper house, only 2 members for each state 6 years terms vs. House, 2 year term.How is the Senate majority leader similar to and from the speaker of the House?-House of rep: (centralized strong leadership) initiate all revenue bills, Must pass all articles of impeachment, Bigger Influence on budget
-Senate: weak leadership, constant to many presidential nominations
-Similarities: No term limit, salaries, high sates incomeIn your opinion, which Senate committee- Judiciary Committee or the Foreign Relations Committee- has greater influence on American life?I believe that the judicial committee has a greater influence on American life because this committee is responsible for hearing and considering the judicial nominate to supreme court.What is the meaning of the terms filibuster and cloture?Filibuster is to talk or take a bill to death, cloture, to end a debate/ take a vote (60/100 senators for cloture to stop) (3/5 to happen)What are the benefits and drawbacks of having nearly unlimited debate?-Benefits: protects rights of all senators allows minority opinions to be heard and understood
-Disadvantages: prevents critical issues.On the next page compare and contrast the Senate and House of Representative using the provided diagram....

how did Loyalists feel about England’s rule over the colonies? What would people who disagreed with them say?

Answers

They felt that england was too strict and unfair due to the taxes theyd put on the colonies. 

The people of the colonies had enjoyed a century of increasing ____

Answers

what are the choices i think i know it

Answer:

Hi! The answer you're looking for would be freedom.

Explanation:

The people of the colonies had enjoyed a century of increasing freedom.

Which of the following characteristics describes the Greek city-state of Sparta? A. Invented democracy B. Focused on warlike ability C. Center of philosophy D. Focused on producing art

Answers

I believe the correct answer is B. focused on warlike ability.
Spartans were famous for their warriors, and if you know anything about history (or you've seen the move '300') you know what I'm talking about. Democracy, philosophy, and art were are connected with Athens far more than with Sparta. 
Final answer:

Sparta, a Greek city-state, was notably focused on its military capabilities. From childhood, members of the society were trained to become strong soldiers through the Agoge education system.

Explanation:

The Greek city-state of Sparta is best characterised by the option B: Focused on warlike ability. Sparta was known for its military strength and warrior society. From a young age, children were trained to become effective soldiers. The education system, known as the Agoge, was designed to produce physically and mentally strong male fighters. While other city-states such as Athens emphasised education and culture, Sparta prioritised military prowess above all else.

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Which statement best describes Benjamin Franklin ??

Answers

I don't Know but I believe it is He resided in Boston and opposed the ideas of the philosopher John locke I will tell you for sure after I take this test though

I would say that the statement that he was an Enlightenment thinker and publisher of Poor Richard's Almanac. He was also a founding father of the US. He was a leading author, printer, politician, scientist, inventor statesman and diplomat, among other things. He invented the lightning rod, bifocals and the Franklin stove. 

PLEASE ANSWER ASAP


Which of the following would be likely to support completion of the Intercolonial Railway? Explain the reasons why each group you select would support it.

- The United States Government

- a lumber producer in New Brunswick

- a stove manufacturing factory in Sarnia, Canada West

Answers

The U.S Government Might support the Railroad because they might be able to use the railroad to transport materials for men at war or other materials the country might need.

A lumber producer in New Brunswick might support it because, the Railroad will require wood for the tracks. The lumber producer can profit from this because they would have to supply a very large amount of lumber to the Intercolonial Railroad. They could also use it to transport the lumber.

Astove manufacturing factory in Sarnia, Canada West might support it because they could sell the steel to the Railroad to make the tracks for the train. and also tranport stoves across the country maybe.
Final answer:

The lumber producer in New Brunswick would support the railway for better market access, the stove manufacturing factory in Sarnia for efficient distribution and cost reduction, and even the United States Government might support it for enhanced trade and economic growth.

Explanation:

The groups most likely to support the completion of the Intercolonial Railway would be those who stand to benefit economically or strategically from improved transportation and trade infrastructure. A lumber producer in New Brunswick would likely support the railway project because it would provide efficient access to broader markets for their timber products, facilitating easier and more cost-effective shipping to other parts of Canada and potentially to international markets. Similarly, a stove manufacturing factory in Sarnia, Canada West would welcome the railway as it would allow for improved distribution of their manufactured goods across the country and reduce transportation costs, enhancing their competitive edge domestically and potentially internationally. Despite the potential competition in North American markets, even the United States Government might see benefits in supporting such a railway to facilitate trade and economic growth across the border, both for American exporters and for industries dependent on Canadian raw materials.

From a historical perspective, after the civil war, the transcontinental railroad in the United States had fueled industrial expansion, including steel manufacturing, the development of the telephone, and the light bulb, and had a transformative effect on the nation's economic status and internal development. There is a parallel to be drawn with the Intercolonial Railway contributing to Canada's own industrial growth and economic prosperity.

how does christopher columbus view the native populations he initially encounters?

Answers

Since Christopher Columbus originally thought he landed in India he viewed the native populations as Indians.

Answer:

When he arrived to what we know today as the Bahamas, he encountered people that didn't speak his language but were friendly. He noticed that they were not experts in war and could not defend themselves so he saw them as an easy conquest. He took a few of them back to the king so they would learn the language, learn his religion and would eventually help him to conquer the new lands he had discovered.

Explanation:

He claimed that with just 50 men he could conquer that land and do whatever he wanted. What he was really attracted to was the gold that local people had on them and we know, the conquest that came after that was really a way to take away the resources of the native people back to  Europe.

In 509 BCE the Romans removed their last king. What type of government was put in place? A. Rome fell apart after the last king. B. Dictatorship C. An emperor replaced the king. D. Republic

Answers

D the republic......

Hope this helps :)
I agree with the person above - the correct answer is D. Republic.
509 BC is the exact year when the Roman Republic came to be, after the last Roman king, Lucius Tarquinius Superbus, was overthrown and two consuls were introduced in his stead. This completely changed the organization of the country.

An element with atomic number 10 is located to the what of an element with atomic number nine

Answers

Right. Because 9 comes before 10 so 10 would be on the right of 9

A person’s job was an important part of the caste system. True or false

Answers

the answer is true so make the other person get Brainly east answer cause I don’t need it but the other person would appreciate it.

The caste system categorizes Hindus into four ranks- Brahmins, Kshatriyas, Vaishyas, and the Shudras.  It is believed that the four groups emerged from the Hindu god of creation known as Brahma.

Brahmins were at eh top of this hierarchy. They were mainly intellectuals and teachers. They were believed to have originated from Brahmins head. Next to Brahmins were Kshatriyas ( rulers and warriors). They were believed to have originated from his arms. Next to Kshatriyas were Vaishyas, they were believed to have been created from his thighs. Shudras were at the bottom of the hierarchy. They were believed to have originated from his feet. Shudras did the menial jobs. The four castes were then divided into 3,000 castes based on their occupation.

So , we can say that the caste system was base on a person's profession.  

True is the correct answer

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An archeologist discovers an official-looking seal during an archeological dig. The seal is cylindrical in shape and is much like what a king would use when signing letters. Not long after, the archeologist finds a clay tablet covered in cuneiform script. The archeologist translates the words on the tablet. He discovers that it states a set of laws and rules that the citizens of the civilization must have had to follow.

Based on the passage, what conclusion can be drawn about the civilization?

a. All ancient civilizations were ruled by kings, and they set the law and rules of the land.
b. The king of this civilization used pictogram script to write laws and rules on clay tablets.
c. The civilization didn’t believe in having a single king and was ruled by a group of governors.
d. The civilization had a functioning government in place that decided the law of the land.

Answers

Answer:

d. The civilization had a functioning government in place that decided the law of the land.

Explanation:

This is the only logical conclusion that we can get from the information providen by the passage. Let's begin, the passage shows us that there was probably a king in that civilization as the official looking seal is similar to others. The archeologist can compare his knowledge from other ancient civilizations and supose that this one has that thing in common. The tablet with cuneiform script demonstrates that the civilization was organized enough to have laws and rules, there were some problems that were so common the government needed a way to treat them.  

So the government was stable enough to apply rules over the citizens, making it functional.

The things we can't know from the information is who wrote in the tablet, it could be the king or someone designated for that job. The content of the tablet doesn't say if there was one king or various governors. Lastly, the things found out by the archeologist only give us information of that specific civilization, we can generalize.  

In addition to influencing the Declaration of Independence, the Virginia Declaration of Rights served as a model for

Answers

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Which describes the Stamp Act of 1765?



 
A.
a tax on locally-grown produce


 
B.
a tax on imported tea


 
C.
a tax on all printed materials


 
D.
a tax on alcoholic beverages

Answers

The correct answer is C.

Answer:

C

Explanation:

took the test (k12)

How can the woman’s counsel use the Sixth Amendment’s witness clause to support her case? Give your response in at least two complete sentences.



Answers

which is based on the Supremacy Clause, federal law preempts state law, even when the laws conflict. Thus, a federal court may require a state to stop certain behavior it believes interferes with, or is in conflict with, federal law.

Answer:

The confrontation clause of the sixth amendment to the US constitution gives the right to have face to face confrontation with the witness offering testimonial evidence against an accused in the form of cross examination during trial. Further the fourteenth amendment make it applicable to the state government also. It is not applicable to criminal prosecutions.

A women's counsel can use it for cross examining the witness during the trial.

John Adams’ Alien and Sedition Acts influenced the election of 1800 because

Answers

they were widely unpopular because people saw them as the federal government becoming too powerful. Power transferred to the Democratic-Republicans under Jefferson’s election, with the states holding more power.

The Alien and Sedition Acts influenced the election of 1800 because this law made Adam's wildly unpopular, causing him to lose the election of 1800.


One of the most controversial elements of the Alien and Sedition Acts was the part that limited American citizens ability to critique the government. Many Democratic-Republicans felt this was a clear violation of their first amendment right of freedom of speech. Due to this anger, many individuals went out to the polls and voted to put in Thomas Jefferson as the new president.

if you had lived during the time of the constitutional convention would you support or opposed the ratification of the new convention?

Answers

I believe that I would support the convention. I believe in most of all that is in the constitution and think it was one of the greatest and most important things in the history of America.

How did the magna carta gradually change legal ideas in england

Answers

Prior to the implementation of Magna Carta, every word the King said was the law. He was the highest official and needed no approval from anyone. When Magna Carta was implemented, every law the King would say would have to be approved by the Barons. 

Information found on periodic table for each element includes it’s what?

Answers

The answer is atomic number
it includes the chemical symbols, atomic mass of each element and atomic number

Which answer provides the best definition of a subsistence crop?

1 Crops raised to earn a profit for the family
2 Food items harvested from the wilderness
3 Crops grown to trade for hardware and lumber
4 Plants and animals grown to keep a family alive

Answers

Answer:

Option 4, is the right answer.

Explanation:

Option 4, plant and animals grown to keep a family alive is the correct answer because the subsistence crops are those crops which the farmer grows for the consumption of his family. His primary motive behind the subsistence cropping is to keep alive or provide food to his family. However, for the profit purpose, farmer generally prefers commercial cropping rather than subsistence cropping.

Answer:

Option 4

Explanation:

I took a test and got it right.

In your own words describe what life was like in a tenement

Answers

Tenements were very crowded and dirty as there was little space and many people living in just small rooms

apartment houses that barely meet or fail to meet the standards of safety, cleanliness, and comfort.They were not ideal places to live.

Northerners who relocated to the South after the Civil War were called

Carpetbaggers.


Copperheads.


Interlopers.


Scalawags.

Answers

the last opiton would be your answer

Answer:

carpetbaggers

Explanation:

study island

Restate the question, including a rephrasing of the word "shape" the question is "How Did the Nile Shape Ancient Egypt?

Answers

Without the Nile, Egyptian civilization would not have been possible. With the exception of a few oases, most of Egypt, other than the areas bordering the Nile, is inhospitable desert. Everything that demands water—drinking, cooking, animal husbandry, creating pottery—depended on the Nile bringing water from the southern mountains to lower Egypt. The Egyptians also relied on the Nile for transportation.

Egyptian culture would not have been feasible without the Nile. Except for a few oases, the majority of Egypt is hostile desert, with the exception of the regions that border the Nile. The Nile's ability to transport water from the southern mountains to lower Egypt was essential for everything that required water, including drinking, cooking, caring for animals, and making pottery. The Nile served as a major transit route for the Egyptians.

What is dessert ?

Between the provinces of Helmand and Kandahar in southeast Afghanistan is the severely dry plateau region known as the Registan Desert, often spelled Rigestan Desert. Small red sand hills that are 50–100 feet (15–30 m) high, sand-covered plains, and open, rocky, and clay-covered sections make up this sandy desert.

Ancient transverse dunes that have been partially stabilized form the foundation of the hills, reflecting a wind that blows from west to east and an almost limitless supply of sand. Baluchi and Pashtun nomads are quite sparsely dispersed throughout the desert. Agriculture in the immediate vicinity is being steadily encroached upon by the desert.

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Why did most states limit the power of the governors and divide their legislators two bodies

Answers

so they didn't become like a king

Answer:

British rule made them wary of giving one group too much power.

Explanation:

"They wanted to prevent abuses", or take advantage, "of power in the states and they wanted the power to be in the hands of the people." The person that said they didn't wanna be like a king was almost correct, but they had other reasons than that.

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Evaluate the expression choose the best answer 8P3 A. 6,720B. 876C. 1,680D. 336HELP!!!!! The person who wrote most of the letters in the new testament The shelf is made of 3 pieces of wood, each 0.3 meter wide. There is also 0.05 meter of space between the shelf and the wall on each side. What is the width, in meters, of the closet?A. 0.4B. 0.8 C. 1 D. 1.9 a spherical ball of weight 50 N is to be lifted over the step 5 cm high. the ball has radius 10cm front he flatter side and 20 cm from the round one (since it is a sphere). calculate the minimum force needed to just lift it above the floor Alpha Technologies, a newly established company, wants to share information about its work with people all over the world. Which type of server should this company use to upload their information?A-web serverB-mail serverC-database serverD-file server Unavoidably, directions to accomplish a complex or technical process are difficult to understand and are occasionally even incomprehensible. True False how do you do 36-7p=-7(p-5) Lucy is thinking of a number.The number is greater than two hundred twenty- five. her number is less than 2 hundred 2 tens 7 ones. what is lucy's number? Random samples of the population should be _____ of that population.a. indicativeb. shortc. none of thesed. representative -4(3x-1)=12-8x and plz show how you got it NEED HELP ASAP! 50 POINTS! WILL GIVE BRAINLIEST!Can someone help me come up with a rhythmic gymnastic routine?Here are the guidelines:Select music that is appropriate for school and matches your routine. Set the beat to an 8 count. Use dances such as the Macarena, Electric Slide, Chicken Dance, Cha Cha Slide, Limbo or other school appropriate dances. Modify two or more of these dances by including a roll, splits or other gymnastic movements. Perform the dances with a partner or group. Be sure to incorporate the use of rhythmic equipment. Develop a routine that lasts 2-3 minutes. Step 1. Create a scenario that leads to an inequality of the form ax + b > c. You can use any of the inequality symbols (>, , What is the difference between escape and avoidance? Given f(x)=4x^2-3x+1 and g(x)=2x-5 , find f(x)+g(x) .A.) 4x^2-5x+6B.) 4x^2-x+6C.) 4x^2-5x-4D.) 4x^2-x-4 What supplement would most likely be recommended for someone suffering anemia? Describe how a battery works Which are the instuctors that tell the cel everything it needs survive Which would have more chloroplasts. root leaf or stem? When responding to your boss that you agree on a topic, it would be acceptable to say _____."I'm down with that.""I totally get it!""That sounds great.""Cool beans." What would happen if the process of mitosis skipped one of its stages? Steam Workshop Downloader