THE ROARING 20S 1920 1929
AMERICAN ORGANIZED CRIME OF THE 1920S
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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People were unemployed and losing everything
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People were quitting their jobs because they were up all night partying in the speakeasies.
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People were borrowing a lot of money and spending more than they could afford to.
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None of the above
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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: -Before the Crash: A Period of Phenomenal Growth Unemployment was low, and automobiles spread across the country, creating jobs and efficiencies for the economy. Until the peak in 1929, stock prices went up by nearly 10 times.
Detailed explanation-3: -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-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.