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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a period of difficulty
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a time when farmers couldn’t grow crops
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a time when jobs paid low wages
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a period of mild sadness
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Detailed explanation-1: -They argued that the Great Depression was caused by the banking crisis that caused one-third of all banks to vanish, a reduction of bank shareholder wealth and more importantly monetary contraction of 35%, which they called “The Great Contraction".
Detailed explanation-2: -The Great Depression was the worst economic downturn in US history. It began in 1929 and did not abate until the end of the 1930s. The stock market crash of October 1929 signaled the beginning of the Great Depression. By 1933, unemployment was at 25 percent and more than 5, 000 banks had gone out of business.
Detailed explanation-3: -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. In this video, Great Depression expert David Wheelock of the St.
Detailed explanation-4: -The Great Depression ended in 1941. This was around the same time that the United States entered World War II. Most economists cite this as the end date, as this was the time that unemployment dropped and GDP increased.