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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50%
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75%
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100%
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Detailed explanation-1: -Real wages rose by 16 percent between 1929 and 1932, while the unemployment rate ballooned from 3 to 23 percent.
Detailed explanation-2: -The highest rate of U.S. unemployment was 24.7% in 1933, during the Great Depression.
Detailed explanation-3: -Unemployment rate The rate peaked at 25.6% during the Great Depression, in May 1933, according to NBER data. This year, more than 23 million Americans were unemployed as of mid-April as the coronavirus pandemic caused broad shutdowns of economic activity, according to the Bureau of Labor Statistics.
Detailed explanation-4: -How did the Great Depression affect the American economy? In the United States, where the Depression was generally worst, industrial production between 1929 and 1933 fell by nearly 47 percent, gross domestic product (GDP) declined by 30 percent, and unemployment reached more than 20 percent.