THE GREAT DEPRESSION 1929 1940
PRESIDENT HERBERT HOOVER AND THE GREAT DEPRESSION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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laid off workers, decrease banks, and decrease jobs because there wasn’t enough money to pay workers
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laid off workers, decreasing wages, and decreasing prices since there was no demand for products
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Either A or B
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None of the above
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Detailed explanation-1: -Dominos: Overproduction. Factories and farms had already produced more goods than people could afford to buy. As a result of the stock market crash, more people stopped spending. Factories slowed production. Workers were laid off.
Detailed explanation-2: -What were the major causes of the Great Depression? Among the suggested causes of the Great Depression are: the stock market crash of 1929; the collapse of world trade due to the Smoot-Hawley Tariff; government policies; bank failures and panics; and the collapse of the money supply.
Detailed explanation-3: -It began after the stock market crash of October 1929, which sent Wall Street into a panic and wiped out millions of investors. Over the next several years, consumer spending and investment dropped, causing steep declines in industrial output and employment as failing companies laid off workers.
Detailed explanation-4: -Known as Black Thursday, the crash was preceded by a period of phenomenal growth and speculative expansion. A glut of supply and dissipating demand helped lead to the economic downturn as producers could no longer readily sell their products.