THE ROARING 20S 1920 1929
AMERICAN ECONOMY IN THE 1920S
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Many banks were closing because they ran out of money.
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The economy struggled because of all the money that had been spent fighting in Europe.
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A drought hit the U.S. for several years causing many farmers’ crops to fail.
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The stock market crashed causing people to lose millions and businesses to struggle.
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Detailed explanation-1: -The Great Depression was the worst economic downturn in the history of the industrialized world, lasting from 1929 to 1939. It began after the stock market crash of October 1929, which sent Wall Street into a panic and wiped out millions of investors.
Detailed explanation-2: -The 1929 stock market crash, the Smoot-Hawley Tariff act of 1930, government policies, bank failures and panics, and the depletion of the money supply are some of the major causes of the Great Depression.
Detailed explanation-3: -Even though, the Great Depression, originated in the United States, it impacted the economies of Germany and Great Britain hard and almost every country in the world. The global economic downfall was accompanied by dramatic declines in output, severe unemployment, and acute deflation.
Detailed explanation-4: -Hence we can say that Japan was not affected by the economic depression during 1929-30.