THE GREAT DEPRESSION 1929 1940
THE GREAT DEPRESSION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The Great Depression left millions of Americans unemployed
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In 1929, some stocks lost over half their value overnight with many Americans losing their life savings
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Only people who didn’t want to work are those ones who suffered
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Factories closed, businesses closed, banks closed. 1 out of 4 working Americans lost their jobs and could not find another
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Detailed explanation-1: -It was marked by steep declines in industrial production and in prices (deflation), mass unemployment, banking panics, and sharp increases in rates of poverty and homelessness.
Detailed explanation-2: -What were the major causes of the Great Depression? Among the suggested causes of the Great Depression are: the stock market crash of 1929; the collapse of world trade due to the Smoot-Hawley Tariff; government policies; bank failures and panics; and the collapse of the money supply.
Detailed explanation-3: -Answer and Explanation: The correct answer is b.) The government became less involved in business activities.
Detailed explanation-4: -The key causes of the Great Depression are the stock market crash, banking panic, and the decline in aggregate demand. The impacts that the Great Depression had on the economy were: a significant drop in living standards, a decline in economic growth, deflation, banking failures, and a decline in world trade.