What Did the Panic of 1873 and the Panic of 1893

question 134

Multiple Choice

What did the panic of 1873 and the panic of 1893 have in common?

• A)They were both caused by the Federal Reserve's failure to implement the proper monetary policy.
• B)They were both caused by a real estate bubble.
• C)They both led to large increases in real GDP and decreases in the unemployment rate.
• D)They were both caused by overbuilding in the railroad industry.

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Definitions:

Pessimistic Explanatory Style

A cognitive approach where individuals habitually attribute negative events to permanent, personal, and pervasive causes, often affecting their overall outlook on life.

Learned Helplessness

A condition in which a person suffers from a sense of powerlessness, arising from a traumatic event or persistent failure to succeed, perceived as beyond their control.

Social-cognitive Perspective

An approach in psychology focusing on how people's thoughts, beliefs, and attitudes influence their behavior within a social context.

Epigenetic

Pertains to the study of heritable changes in gene expression that do not involve changes to the underlying DNA sequence.