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Choose given statement is true/false:
The United States' Wall Street Exchange failed in 1929, severely impacting the global economy.

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Detailed Solution

The above statement is True.
The Wall Street Exchange in the USA failed in 1929, severely impacting the global economy. After the First World War, the United States became a net creditor. The USA provided loans to numerous countries around the world to fund their economic activity. The US withdrew its loans, nevertheless, as a result of the stock market disaster as the Wall Street Exchange crashed. It contributed to the 1929 Great Depression. Other countries had to deal with the effects of the recession on the US economy. Germany's industrial production decreased by 40%, which resulted in widespread unemployment.

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Choose given statement is true/false:The United States' Wall Street Exchange failed in 1929, severely impacting the global economy.