Question

What are Economic Depression of 1929?
What was the causes and effects of Economic Depression in 1929?​

Answer 1

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What was Economic Depression of 1929?

What was the causes and effects of Depression in 1929?

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Economic Depression is the term used for a major economic collapse characterized by mass unemployment and limited business activity that lasted from 1929 to 1940 in the US and a similar period in many other countries

The causes and effects are as follows:

• German investments & industrial recovery were totally dependent on short term loans , largely from the USA .
• This support was withdrawn when the wall street exchange crashed in 1929 .
• Fearing a fall in prices , people made frantic efforts to sell their shares . On the single day , 24 October , 13 Million shares were sold .
• This was the start of the great Economic Depression . Between 1929 & 1932 , the national income of the USA fell by half .