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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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -Abrupt decline in standards of living occurred around the world. As demand for goods and services fell, many companies were forced to shut down, increasing unemployment. Unemployment rates as high as 25 percent in industrialized countries were reached in the early 1930s.
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.
Detailed explanation-3: -After extensive research, our data analysis team concluded: The worst unemployment experienced in the US took place during the Great Depression (1929-1933), when the unemployment rate reached 24.9%.
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.
Detailed explanation-5: -Unemployment in the Great Depression. In the United States, unemployment rose to 25% at its highest level during the Great Depression. Literally, a quarter of the country’s workforce was out of work. This number translated to 15 million unemployed Americans.