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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European nations began to suffer greater economic depressions and turned to Great Britain to provide relief.
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European nations began prosper and pay back their loans to the United States.
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European nations began to suffer greater economic depressions and turned to Germany to pay their reparations.
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European nations began prosper but refused to pay back their loans to the United States.
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Detailed explanation-1: -The U.S. economy shrank by a third from the beginning of the Great Depression to the bottom four years later. 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%.
Detailed explanation-2: -The Great Depression was the worst economic downturn in the history of the industrialized world, lasting from the stock market crash of 1929 to 1939. The Great Depression was the worst economic downturn in the history of the industrialized world, lasting from the stock market crash of 1929 to 1939.
Detailed explanation-3: -Although there were national variations, no part of Europe was left untouched by the Great Depression. In the worst affected countries – Poland, Germany and Austria – one in five of the population was unemployed, and industrial output fell by over 40 per cent. Levels of trade between countries also collapsed.
Detailed explanation-4: -They argued that the Great Depression was caused by the banking crisis that caused one-third of all banks to vanish, a reduction of bank shareholder wealth and more importantly monetary contraction of 35%, which they called “The Great Contraction".