11. How did the stock market crash, the closing of the Ford Model T plant and the collapse of the farming

industry contribute to the economic collapse known as the Great Depression?

a. increased unemployment and output.

b. decreased unemployment and prices.

C. destroyed jobs, wealth, and American confidence in the economy

d. none of the listed items contributed to the economic collapse

Question

History

Franco Knox

2 May, 02:47

11. How did the stock market crash, the closing of the Ford Model T plant and the collapse of the farming

industry contribute to the economic collapse known as the Great Depression?

a. increased unemployment and output.

b. decreased unemployment and prices.

C. destroyed jobs, wealth, and American confidence in the economy

d. none of the listed items contributed to the economic collapse

+1

Answers (1)

Know the Answer?

Greta Henson · Answer 1

The stock market crash, the closing of the Ford Model T plant and the collapse of the farming industry contribute to the economic collapse by destroying jobs, wealth, and American confidence in the economy

Answer: Option C

Explanation:

Great Depression was the worst economic disaster in the history of the United States. During the period of Great Depression, the good produced declined by almost one-third. The stock market lost almost 80% of its value.

Also the unemployment rate rose by almost 25%. During this period, the failure of almost 7000 banks led to the loss of the confidence of people in the economy. The crash of the stock market destroyed a lot of wealth and the reduced money stock of the nation led to the economic disaster.