THE GREAT DEPRESSION 1929 1940
THE GREAT DEPRESSION
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
especially
|
|
|
only
|
|
|
somewhat
|
|
|
while
|
Detailed explanation-1: -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-2: -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: -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-4: -Causes of Great Depression The failure of banks, which was the impact of the stock market crash as more people withdrew their savings from the banks leading to closure. Reduction in purchases due to diminished savings. The passing of Smoot-Hawley Tariff or the Tariff Act of 1930, imposed high taxes on imported goods.