Which of the following is true of the collapse of the stock market on October 29, 1929?

It was a minor event, only causing temporary economic suffering in the United States.

It was caused largely by Franklin Roosevelt's incompetent management.

It triggered the Great Depression.

It was a disaster, but it did not actually cause the onset of the Great Depression, which followed the crash several years later.

Question

History

Shayla Villa

24 November, 02:11

Which of the following is true of the collapse of the stock market on October 29, 1929?

It was a minor event, only causing temporary economic suffering in the United States.

It was caused largely by Franklin Roosevelt's incompetent management.

It triggered the Great Depression.

It was a disaster, but it did not actually cause the onset of the Great Depression, which followed the crash several years later.

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Answers (1)

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Porter Cruz · Answer 1

The correct answer is It triggered the Great Depression.

It wasn't Roosevelt's but Hoover's incompetency that worked its wonders in the depression. It lasted for 12 years after that and was resolved by Roosevelt. The Great Depression was being built up by the stock market but it all went down on that date.