The Great Depression was the worst economic downturn in US history. It began in which year?

The correct answer is 1929.

Key Points

• The Great Depression began in October 1929 following the dramatic stock market crash known as the Wall Street Crash of 1929.
• It lasted for approximately 10 years, ending in the late 1930s, and caused widespread economic hardship globally.
• The collapse of the stock market led to severe declines in industrial output, unemployment rates rising to unprecedented levels, and the failure of numerous banks.
• The Great Depression had far-reaching consequences, including global trade reduction, deflation, and the rise of extremist political movements in some countries.
• The economic downturn also prompted significant policy responses, such as President Franklin D. Roosevelt's New Deal program aimed at economic recovery.

Additional Information

• Wall Street Crash of 1929: Often referred to as "Black Tuesday," this was the most devastating stock market crash in US history, marking the start of the Great Depression.
• Deflation: A sustained period of falling prices occurred during the Great Depression, which significantly worsened economic conditions for businesses and individuals.
• New Deal: A series of programs and policies introduced by President Franklin D. Roosevelt between 1933 and 1939 to combat the economic crisis, including public works projects and financial reforms.
• Global Impact: The Great Depression affected countries worldwide, with declines in global trade and economic growth, especially in industrialized nations.
• Unemployment: Unemployment rates in the US reached a peak of about 25% during the Great Depression, leading to widespread poverty and social challenges.