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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successfully organized agricultural unions
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migrated into rural areas, where work was more available
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moved into California
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left the United States entirely
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migrated to the South
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Detailed explanation-1: -Real GDP fell 29% from 1929 to 1933. The unemployment rate reached a peak of 25% in 1933. Consumer prices fell 25%; wholesale prices plummeted 32%. Some 7, 000 banks, nearly a third of the banking system, failed between 1930 and 1933.
Detailed explanation-2: -The early effects of the Depression on Mexico were directly felt by the mining sector in which the overall export price index fell by 32% from 1929 to 1932. The real value of Mexican exports fell by 75%, that of outputs by 21%, and the external terms of trade fell by 50% between 1928 and 1932.
Detailed explanation-3: -Roosevelt took office, stabilized the banking system, and abandoned the gold standard. These actions freed the Federal Reserve to expand the money supply, which slowed the downward spiral of price deflation and began a long slow crawl to economic recovery. The Great Depression finally ended in the early 1940s.
Detailed explanation-4: -The Great Depression was the worst economic downturn in the history of the industrialized world, lasting from 1929 to 1939. It began after the stock market crash of October 1929, which sent Wall Street into a panic and wiped out millions of investors.