CA Foundation P4 · Chapter 6 · Question 11 of 15
The worldwide economic downturn that began with the stock market crash of 1929 is known as:
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: D) The Great Depression
Explanation
The Great Depression of the 1930s followed the 1929 Wall Street crash and saw massive unemployment and falling output in many countries. It was a major influence on Keynes' General Theory of 1936.
More Business Cycles MCQs
- Q13To counter a recession, the government is most likely to:
- Q14Samuelson and Hicks explained business cycles through the interaction of:
- Q15Which of the following statements about the impact of business cycles is INCORRECT?
- Q1The correct sequence of the phases of a business cycle is:
- Q2Which statement about business cycles is correct?