Answer: one cause of the great depression was the stock market crash of 1929
Explanation:
The Great depression of America has led to the economic crisis in America. One of the major causes of the great depression of America was the crashing of stock market resulting in panic in the wall street and washing out of numerous investors.
As a result of great depression, consumer spending and investment dropped over the next few years. Unemployment increased by 25% in the united states.
The United States' economy was devastated by the great depression. Many people became homeless as they were not having any source of income. The housing prices also plumed due to the depression. International trade slowed down and collapsed as a result of great depression.
Some of the major causes of great depression includes:
The crashing down of stock market in October 1929 which resulted in a huge decrease in investment as well as in consumer spending.
The introduction of smooth-Hawley tariff resulted in the collapse of world trade.
The money supply in the US economy also collapsed due to failure of banks and government policies. Almost one third of the banks in US failed to continue their operations.
Therefore, the Great depression of America has led to the economic crisis in America. One of the major causes of the great depression of America was the crashing of stock market resulting in panic in the wall street and washing out of numerous investors.
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