Choose the given statement as true/false:

Stability of the years between 1924-1928 was built on quicksand.

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Detailed Solution

The above statement is true.
Stability of the years between 1924-1928 was built on quicksand. Between 1924-1928, even though it was built on quicksand there was stability. The short-term loans from the USA were the main source of German investment and industrial recovery. The crash of the Wall Street Exchange in 1929 resulted in the withdrawal of this support. This made people sell their shares due to the fear of the price falling. This marked the start of the Great Economic Depression. The national income of the USA fell in half for the years 1929,1930,1931 and 1932. The effects of this economic depression were factories were shut down, exports decreased, farmers were affected badly and investors withdrew their money from the market.

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