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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Bank closures
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Foreclosures on their farms and homes
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Stockmarket
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All of the above
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Detailed explanation-1: -The stock market crash. The struggling agricultural sector. Bank failures and loss of people’s savings.
Detailed explanation-2: -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-3: -Banks failed-between a third and half of all U.S. financial institutions collapsed, wiping out the lifetime savings of millions of Americans.
Detailed explanation-4: -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-5: -Not everyone, however, lost money during the worst economic downturn in American history. Business titans such as William Boeing and Walter Chrysler actually grew their fortunes during the Great Depression.