Answered step by step
Verified Expert Solution
Question
1 Approved Answer
How did easy consumer credit help the U.S. economy during the early 1920s? Unemployment dropped because people had to find jobs to make their payments.
How did easy consumer credit help the U.S. economy during the early 1920s? Unemployment dropped because people had to find jobs to make their payments. Farmers sold more crops directly to consumers and so made more profits. Interest payments on personal debt allowed banks to make large investments. People bought more goods and created high demand for new products
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started