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How did the wealthy contribute to the Great Depression?
• A. They stopped purchasing, which led to a reduction in production.
OB. They took out installment loans for items rather than purchasing them outright.
OC. They put all their money in one particular stock that caused the crash.
OD. They took all their money out of the banks, which led to bank failures.
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1 How did the wealthy contribute to the Great Depression A They stopped purchasing which led to a reduction in production OB They took out installment loans for class=

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The wealthy contributed to the Great Depression because "They took all their money out of the banks, which led to bank failures."

This is evident in the fact that one of the main components of the Great Depression was deflation.

During this period, deflation led many sectors and families with little capital to pay their debt as debt burdens multiplied.

As a result, many wealthy withdraw their money from banks based on the rumor of banks' inability to pay money to customers.

As a result, about 1,000 banks closed down during the Great Depression period, which lasted between 1930 to 1933.

Hence, in this case, it is concluded that the correct answer is option D. "They took all their money out of the banks, which led to bank failures."

Learn more here: https://brainly.com/question/14908452

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