Question

What was the impact of the great depression on US

Answer 1

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As a result of the wall street crash, people had to sell their shares at a very low process sustaining a huge loss. Industry, trade and commerce also suffered a lot due to the Great Depression. The farmers were also not immune from the impact. They could not repay their mortgage installments due to fall in price. In such cases the banks took over the farm and sold it for whatever price it could.


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Answer 2

The wall street exchange which is the world's biggest stock exchange in USA crushed in 1929

1)Fearing a fall in prices,people made frantic efforts to sell their shares.on one single day 24th October,13million shares were sold

2)Over the next 3years,between 1929 and 1932,the national income of the USA fell by half

3)Factories shift down,exports fell,farmers were badly hit and speculators with free there money from the market.The effects of this recession in the US economy were felt worldwide

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