The "Panic of 1873" and Subsequent Four-Year "Long Depression" Were

question 9

Multiple Choice

The "Panic of 1873" and subsequent four-year "Long Depression" were caused by

• A) speculation in cotton futures.
• B) political quarrels in New York City.
• C) failure of a Philadelphia banking firm.
• D) a strike by Pennsylvania railroad workers.

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Definitions:

Distributive Bargaining

A negotiation strategy where parties vie for the largest share of a fixed asset, often resulting in a win-lose situation.

Competitiveness

The desire to outperform others by being more successful, efficient, or superior.

Assertiveness

The quality of being self-assured and confident without being aggressive, crucial for effective communication and negotiation.

Cooperativeness

The willingness to work jointly with others or within a group toward a common goal or objective.