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Select all that applyThe results of the weakness of the banking system in the early days of the United States included the fact that Blank______.Multiple select question.it created dependence on government for loansthe barter system was commonit made business and trade more difficultsome local governments issued their own currency

Question

Select all that applyThe results of the weakness of the banking system in the early days of the United States included the fact that Blank______.Multiple select question.it created dependence on government for loansthe barter system was commonit made business and trade more difficultsome local governments issued their own currency

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Solution

The correct answers are:

  • The barter system was common
  • It made business and trade more difficult
  • Some local governments issued their own currency

Explanation:

  1. The barter system was common: Due to the weakness of the banking system, people often resorted to the barter system, which is the exchange of goods or services without using money.

  2. It made business and trade more difficult: Without a strong banking system, it was difficult to conduct business and trade. There was no stable currency, making transactions complicated.

  3. Some local governments issued their own currency: In the absence of a strong central banking system, some local governments took the initiative to issue their own currency to facilitate trade and commerce within their jurisdiction.

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