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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25%
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30%
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65%
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50%
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Detailed explanation-1: -And in spring 1933 while the general unemployment rate was 25 percent, for blacks it was 50 percent. Also, the percentage of African Americans receiving welfare was higher than that of whites. In 1935, 25 percent of the black population was receiving welfare as opposed to 15 percent of whites.
Detailed explanation-2: -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-3: -Over the last half century, black Americans have always suffered more from high unemployment. In 1963, the unemployment rate was 5.0 percent for whites but 10.9 percent, or 2.2 times the white rate, for blacks.
Detailed explanation-4: -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%.