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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New Deal
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Great Depression
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Dust Bowl
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Civil War
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Detailed explanation-1: -The Great Depression was the greatest and longest economic recession in modern world history that ran between 1929 and 1941.
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: -Great Depression, worldwide economic downturn that began in 1929 and lasted until about 1939. It was the longest and most severe depression ever experienced by the industrialized Western world, sparking fundamental changes in economic institutions, macroeconomic policy, and economic theory.
Detailed explanation-4: -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.