History · Rise of Indian Nationalism
UGC NET December 2012 History
The beginning of the Great Depression is related to
AThe collapse of prices in Japan
BThe sudden rise of the price index in Europe
CThe collapse of prices in Wall Street ✓ Correct
DDepression in the Pacific Ocean region
Correct answer: (C) The collapse of prices in Wall Street — The Great Depression began with the collapse of prices in Wall Street, so that is the answer.
Explanation
★The Great Depression began with the collapse of prices in Wall Street, so that is the answer.
★The crash of the New York stock market in 1929 set off the slump.
★Share prices fell sharply, banks failed and trade and industry collapsed.
★The depression spread from the United States across the world economy.
★It brought mass unemployment and hardship through the 1930s.
★Its effects shaped politics and economic policy for years to come.
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