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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10%
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30%
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25%
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15%
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Detailed explanation-1: -Unemployment rates as high as 25 percent in industrialized countries were reached in the early 1930s. In the United States industrial production dropped by nearly 47 percent, the gross domestic product (GDP) decreased by 30 percent, and unemployment climbed past 20 percent.
Detailed explanation-2: -At the height of the Depression in 1933, 24.9% of the nation’s total work force, 12, 830, 000 people, were unemployed. Wage income for workers who were lucky enough to have kept their jobs fell 42.5% between 1929 and 1933. It was the worst economic disaster in American history.
Detailed explanation-3: -How did the Great Depression affect the American economy? In the United States, where the Depression was generally worst, industrial production between 1929 and 1933 fell by nearly 47 percent, gross domestic product (GDP) declined by 30 percent, and unemployment reached more than 20 percent.