THE GREAT DEPRESSION 1929 1940
THE GREAT DEPRESSION
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
laid off workers, decrease banks, and decrease jobs because there wasn’t enough money to pay workers
|
|
|
laid off workers, decreasing wages, and decreasing prices since there was no demand for products
|
|
|
Either A or B
|
|
|
None of the above
|
Detailed explanation-1: -Dominos: Overproduction. Factories and farms had already produced more goods than people could afford to buy. As a result of the stock market crash, more people stopped spending. Factories slowed production. Workers were laid off.
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: -A labor market analysis of the Great Depression finds that many workers were unemployed for much longer than one year. Of those fortunate to have jobs, many experienced cutbacks in hours (i.e., involuntary part-time employment). Men typically were more adversely affected than women.
Detailed explanation-4: -Standard of living dropped, unemployment increased, and industries also saw stagnancy. It also led to a rise of excessive nationalism in Germany and other European countries.