Answer: The answers are:
1- It accelerated the global economic collapse of which it was also a part of.
2- The agricultural sector of the economy was struggling due to drought and falling food prices.
3-Americans forced to buy on credit and wages falling were the main reason.
4- Americans feared that banks would soon fail, immediately began to withdraw funds from their accounts, causing thousands of banks to close.
5-Gold standard, which was a common point for nearly all the countries of the world in a network of fixed currency exchange rates, played a key role in transmitting the American downturn to other countries.
Explanation:
1-On October 29, 1929, Black Tuesday hit Wall Street as investors traded some 16 million shares on the New York Stock Exchange in a single day. Billions of dollars were lost, wiping out thousands of investors. Many american companies spiraled downward into the Great Depression (1929-39).
2-During World War I, farmers worked hard to produce record crops and livestock. In the early 1930s prices dropped so low that many farmers went bankrupt and lost their farms. As an example of this some farm families began burning corn rather than coal in their stoves because corn was cheaper.
3-Many Americans forced to buy on credit fell into debt, and the number of foreclosures and repossessions climbed steadily. Those who were lucky enough to remain employed, wages fell and buying power decreased.
In 1929, consumer spending begun declining.
4-. Prior to the crash, banks participated in the practice of speculation buying, in which they often used investors`. Investors could not repay what they borrowed, and banks could not repay the investors from whom they had borrowed.
5-Although it originated in the United States, the Great Depression caused drastic declines in output, severe unemployment, and acute deflation in almost every country of the world.
