Along-term effect of the national bank crisis was that the economy was weakened by high inflation. strengthened by low inflation. unaffected by high inflation. out of recession by low inflation.

The correct answer is A) weakened by high inflation.

A long-term effect of the National Bank crisis was that the economy was weakened by high inflation.  

Andrew Jackson ordered the withdrawal of federal government funds from the United States National Bank. This decision led to the fear of what happened in 1837 known as the “Panic of 1837”, a financial crisis that affected the economy of the United States. President Jackson deposited the funds in private Banks and in state Banks. Businesses were short of money to pay their debts. Some Banks had to print large amounts of money to borrow money but this produced high inflation. International Banks also loaned money to the United States.  

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