1. The unemployment rate rose sharply.

2. Americans deeply in debt could not pay back their loans.

3.

4. People and businesses lost their savings.

Which item should be number three on the list above?

a.

People in debt bought risky stocks with the money they had left.

b.

Con men tricked Americans with a wide variety of schemes.

c.

Banks began to lose so much money that they had to close.

d.

Foreign countries opened banks in the U. S.

Question

Frey

Social Studies

15 July, 19:12

1. The unemployment rate rose sharply.

2. Americans deeply in debt could not pay back their loans.

3.

4. People and businesses lost their savings.

Which item should be number three on the list above?

a.

People in debt bought risky stocks with the money they had left.

b.

Con men tricked Americans with a wide variety of schemes.

c.

Banks began to lose so much money that they had to close.

d.

Foreign countries opened banks in the U. S.

+4

Answers (2)

Know the Answer?

Janet Shannon · Answer 1

C

Explanation: i took the quiz and got a 100!

Giovanna Farrell · Answer 2

C. Banks began to lose so much money that they had to close

Explanation:

If you stop paying on a loan, you eventually default on that loan. The result: You'll owe more money as penalties, fees and interest charges build up on your account. Your credit scores will also fall.

Failure to pay the IMF would entitle some of Greece's other creditors, including the European bailout fund, to declare a default. They would then have the option to demand immediate repayment of all their loans, a process known as acceleration. Other lenders could then follow suit. Each creditor decides on its own.