The stock market crash of October 29, 1929, had all the following effects except:

Shareholders were forced to sell their stocks at huge losses.

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Businesses failed when banks called in loans they could not repay immediately.

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Brokers demanded immediate payment of money owed to them for stocks purchased on margin.

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Borrowers began defaulting on their loan payments to banks, triggering widespread bank failures.

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More and more people began buying on credit because there was a shortage of cash.

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Solution

The correct option is E More and more people began buying on credit because there was a shortage of cash.
More people were taking credit rather than on cash.

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The stock market crash of October 29, 1929, had all the following effects except:

The correct option is E More and more people began buying on credit because there was a shortage of cash.More people were taking credit rather than on cash.

The correct option is E More and more people began buying on credit because there was a shortage of cash.
More people were taking credit rather than on cash.