Question

Which statement best explains how bank failures contributed to the Great Depression?

A People lost their savings because the government did not insure bank deposits.
B Business could not be done when President Franklin Roosevelt declared a bank holiday.
C The interest rates on bank loans were too high.
D Foreign investors did not invest enough in U.S. banks.

Answer 1

A) people lost their savings because the government did not insure bank deposits

Answer 2

The answer is A! Hope it helps!

Step-by-step explanation: