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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

What is a bank run?

To determine

The definition of a bank run.

Explanation

A bank run means that the bank has no cash remaining, also known as a ‘run on the bank’. It happens in a situation where a lot of people withdraw their money from the bank assuming that the bank may close down in the near future. During nineteenth century around the Great Depression, people use to get nerve-wracking feelings while putting their money in a bank due to bank runs...

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