Question

What date is generally accepted as the beginning of the Great Depression in the United States? A) October 24, 1929 B) October 25, 1929 C) October 28, 1929 D) October 29, 1929

Answer 1

D) October 29, 1929

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Answer 2

Answer: The great depression started on October 29, 1929. The correct answer is option D

Explanation:The Great Depression was the worst economic meltdown ever recorded in the history of the industrialized world. It began in 29 October, 1929 and lasted up till 1939. During this period, investment dropped, unemployment increased, consumer spending decreased, and the total output of industries decreased to it's lowest as some industries winded up.

In the year 1929, the stock market began to crash. When investors began to sell overpriced shares on October 24, 1929. About 12.9 million shares was sold on that day, which is called the black Thursday, but this act did not meltdown the economy, that is why it was not generally regarded as when the great depression started. But after fives day, on October 29, 1929 which about 16 million shares was sold. This now lead to an economic meltdown because of depression in the economy. That is why this day is generally regarded as when it started.