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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20%
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25%
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30%
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Detailed explanation-1: -How high was unemployment during the Great Depression? At the height of the Depression in 1933, 24.9% of the total work force or 12, 830, 000 people was unemployed.
Detailed explanation-2: -First, people who had money invested in the stock market lost much of their savings during the Wall Street Crash of 1929. This caused them to spend less, which created lower demand for goods and services. With businesses seeing a fall in spending, they cut back on output and employed fewer workers.
Detailed explanation-3: -The Great Depression was the worst economic downturn in the history of the industrialized world, lasting from 1929 to 1939. It began after the stock market crash of October 1929, which sent Wall Street into a panic and wiped out millions of investors.