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3 Cards in this Set
- Front
- Back
- 3rd side (hint)
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The stock market crash set off a "chain reaction" in the American economy. People who lost money on the market could no longer invest or buy as many goods. Businesses became nervous about the new economic environment. |
Because of the stock market crash people where unable to buy like they did before the stock crash |
What happened that made businesses so nervous about the new economic environment? |
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Businesses when bankrupt and laid off workers, creating mass unemployment. People lost their savings and could not pay off loans. Banks failed. Prices and demand for goods fell. |
The stock market caused a major crash in the economy, and unemployment hit an all time high, and price and demand for goods fell. |
What happened after Black Tuesday |
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American banks that had given loans to European countries to rebuild their war-torn economies now wanted their money back. The depression spread to Europe when these loans were recalled. |
After banks in the U.S. Ran out of money they demanded that the European country's return the money they were loaned to fix their war-torn economies. This caused the depression to spread to Europe. |
What caused the Great Depression in Europe? |
