On 24 October 1929, around 13 million shares were sold, which started the onset of the what?

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The Great Economic Depression

Renaissance

Dark Ages

Recession Era

answer is A.

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Detailed Solution

On 24 October 1929, around 13 million shares were sold, which started the onset of the Great Economic Depression. Over the following three years, between 1929 and 1932, the national income of the USA fell by half. Several Factories were put to shut down, exports fell, and most importantly, farmers were severely hit, and speculators withdrew their money from the market. The US and the German economy were also the worst hit by the economic crisis. Industrial production was reduced to 40 per cent. The unemployed touched an unprecedented 6 million. Most workers either lost their jobs or their wages were reduced massively.

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