Question

How many banks in the united states failed from the years of 1930 to 1933?
a. one out of fifty
b. one out of twenty-five
c. one out of seventy-five
d. one out of five

Answer 1

the answer should be D.One out of five

Answer 2

The correct answer is D) one out five.  

One out of five banks in the United States failed from the years 1930 to 1933.

Almost 30% of the total number of Banks in the United States in existence in 1930, failed. It was a time of trouble, tensions, and complications that is referred to the banking panics, term coined by Milton Friedman. The economy of the country was at its worst. The US stock market crash of October 1929 caused the Great Depression. Many people lost its jobs, banks went into bankruptcy, and many companies closed.