THE GREAT DEPRESSION 1929 1940
THE GREAT DEPRESSION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Debt defaults, people could not repay their loans
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People quickly repaid bank loans after the stock market crashed
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Many families loss their homes and possessions
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Without food, family members took turn eating on different days
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Detailed explanation-1: -By then, production had already declined and unemployment had risen, leaving stocks in great excess of their real value. Among the other causes of the stock market crash of 1929 were low wages, the proliferation of debt, a struggling agricultural sector and an excess of large bank loans that could not be liquidated.
Detailed explanation-2: -Equally relevant issues, such as overpriced shares, public panic, rising bank loans, an agriculture crisis, higher interest rates and a cynical press added to the disarray. Many investors and ordinary people lost their entire savings, while numerous banks and companies went bankrupt.
Detailed explanation-3: -The causes of the Great Depression included the stock market crash of 1929, bank failures, and a drought that lasted throughout the 1930s. During this time, the nation faced high unemployment, people lost their homes and possessions, and nearly half of American banks closed.