Multiple Choice
Which factor contributed to the Panic of 1837?
A) Businesses refused to liquefy their assets in order to pay off debts.
B) American bankers called for loans to be repaid only with banknotes.
C) Falling cotton prices prevented southern farmers from paying off northern creditors.
D) Real estate prices increased even as stock prices plummeted.
Correct Answer:
Verified
Correct Answer:
Verified
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