Question

Name of the region where "The Great Depression of 1929" started.
1. North America
2. Asia
3. Europe
4. South America

Answer 1

Correct Answer - Option 1 : North America

The correct answer is North America.

• The Great Depression was the greatest and longest economic recession in modern world history.
  • It began with the U.S. stock market crash of 1929 and did not end until 1946 after World War II. 
  • It started in North America.

• The American public began a frenzy of investing in the speculative market in the 1920s.
  • Trade routes created during WWII remained open and helped the market recover.
  • The 1929 market crash wiped out a great deal of nominal wealth for individuals and businesses alike.
  • Both USA Presidents Hoover and Roosevelt tried to mitigate the impact of the depression through government policies.
  • Neither the government policies nor the beginning of WWII could be single-handedly credited with ending the depression.
• In 1932, the country elected Franklin D. Roosevelt as president.
  • He promised to create federal government programs to end the Great Depression.
  • Within 100 days, he signed the New Deal into law, creating 42 new agencies throughout its lifetime.
  • They were designed to create jobs, allow unionization, and provide unemployment insurance