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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the government should assume control of industry
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the economy would recover on its own
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an increase in defense spending would stimulate the economy
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the government should regulate the economy
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Detailed explanation-1: -Roosevelt took office, stabilized the banking system, and abandoned the gold standard. These actions freed the Federal Reserve to expand the money supply, which slowed the downward spiral of price deflation and began a long slow crawl to economic recovery. The Great Depression finally ended in the early 1940s.
Detailed explanation-2: -The United States is generally thought to have fully recovered from the Great Depression by about 1939. Great Depression, worldwide economic downturn that began in 1929 and lasted until about 1939.
Detailed explanation-3: -Before serving as America’s 31st President from 1929 to 1933, Herbert Hoover had achieved international success as a mining engineer and worldwide gratitude as “The Great Humanitarian” who fed war-torn Europe during and after World War I.
Detailed explanation-4: -It began after the stock market crash of October 1929, which sent Wall Street into a panic and wiped out millions of investors. Over the next several years, consumer spending and investment dropped, causing steep declines in industrial output and employment as failing companies laid off workers.