THE ROARING 20S 1920 1929
1920S AMERICAN CULTURE
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Stock prices went up so fast that investors could not keep up with the changes.
|
|
|
Stock prices fell, investors panicked and sold their stocks, which led to more panic.
|
|
|
The government decided to close the stock market in New York.
|
|
|
People decided to invest their money in stock markets in Europe.
|
Detailed explanation-1: -In October, 1929, the bubble burst, and in less than a week, the market dropped by almost half of its recent record highs. Billions of dollars were lost, and thousands of investors were ruined. After the stock market crash, President Hoover sought to prevent panic from spreading throughout the economy.
Detailed explanation-2: -What caused the Wall Street crash of 1929? The main cause of the Wall Street crash of 1929 was the long period of speculation that preceded it, during which millions of people invested their savings or borrowed money to buy stocks, pushing prices to unsustainable levels.
Detailed explanation-3: -In October of 1929, the stock market crashed, wiping out billions of dollars of wealth and heralding the Great Depression. Known as Black Thursday, the crash was preceded by a period of phenomenal growth and speculative expansion.
Detailed explanation-4: -While the crash of 1929 curtailed economic activity, its impact faded within a few months, and by the fall of 1930 economic recovery appeared imminent. Then, problems in another portion of the financial system turned what may have been a short, sharp recession into our nation’s longest, deepest depression.