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Which factor was the main reason the Panic of 1837 led to an economic

depression in the United States?
O A. The sudden repeal of the Tariff of 1828
B. The United States' lack of a central bank
C. A drop in land prices after Cherokee migration
D. Conflicts during the nullification crisis

User Atott
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Answer:

Step-by-step explanation:

The main reason the Panic of 1837 led to an economic depression in the United States was B. The United States' lack of a central bank.

The Panic of 1837 was a financial crisis that began in the United States in 1837 and lasted until 1843. The crisis was caused by a number of factors, but the primary cause was the lack of a central bank in the United States. At the time, the country was on a decentralized banking system, which made it difficult for banks to respond to financial crises, and caused a series of bank failures and a severe contraction of credit. The crisis also highlighted the vulnerability of the nation's monetary system, which was based on the gold and silver standard.

The other factors you listed - the sudden repeal of the Tariff of 1828, a drop in land prices after Cherokee migration and Conflicts during the nullification crisis - may have contributed to the economic downturn, but the lack of a central bank was the main cause.

User MeuhMeuh
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