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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33%
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50%
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25%
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15%
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Detailed explanation-1: -Unemployment rates as high as 25 percent in industrialized countries were reached in the early 1930s. In the United States industrial production dropped by nearly 47 percent, the gross domestic product (GDP) decreased by 30 percent, and unemployment climbed past 20 percent.
Detailed explanation-2: -The highest rate of U.S. unemployment was 24.7% in 1933, during the Great Depression. Unemployment remained above 14% from 1931 to 1940. 1 It remained in the single digits until September 1982 when it reached 10.1%.
Detailed explanation-3: -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-4: -Unemployment Rate in the United States averaged 5.73 percent from 1948 until 2023, reaching an all time high of 14.70 percent in April of 2020 and a record low of 2.50 percent in May of 1953.