CBSE Class 9 Answered
What impact
did the Great Economic Depression have on US?
Asked by Topperlearning User | 30 Jun, 2014, 10:53: AM
Expert Answer
• When the Wall Street Exchange crashed in 1929, people sold off various shares, fearing the fall in prices. On one single day, 24 October, 13 million shares were sold.
• Over a period of three years, the national income of US fell by half.
• Factories were shut down, exports knocked down, farmers badly hit and speculators withdrew their money from the market.
Answered by | 30 Jun, 2014, 12:53: PM
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