Xeco212 Checkpoint Week 4
Submitted by mohrchad1 on November 1, 2009
- Category: Business
- Words: 314
- Pages: 2
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Xeco212 Checkpoint Week 4
The New York stock exchange (NYSE) crashed on October 24, 1929, a day known as Black Thursday. Which then lead to an economic recession that began on October 29, 1929.This period was known as the Great Depression. The Great Depression originated in the United States, but quickly spread to Europe and the rest of the world. Lasting nearly a decade, the Depression caused massive levels of poverty, hunger, unemployment and political unrest. What specific factors generate such an enormous Depression, and why did it last for more than a decade? Depressions are periods of low employment and low living standards. The normal forces of supply and demand should have reduced wages, which would have...
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