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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Everyone could be rich.
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No one would be rich.
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Everyone would have the same amount of money.
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Very few would be wealthy.
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Detailed explanation-1: -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.
Detailed explanation-2: -Business houses closed their doors, factories shut down and banks failed. Farm income fell some 50 percent. By 1932 approximately one out of every four Americans was unemployed.
Detailed explanation-3: -SAN FRANCISCO (MarketWatch)-He gave long-term investor a whole new meaning. Contrarian investor Irving Kahn, known for making money in the 1929 Crash by shorting stocks, has died at the ripe age of 109.
Detailed explanation-4: -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.