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 depression was severe, but only in the United States.
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Governments acted quickly and the depression only lasted two years.
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The depression caused revolutions all across the world.
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Many countries around the world experienced the economic depression
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Detailed explanation-1: -The Great Depression that began at the end of the 1920s was a worldwide phenomenon. By 1928, Germany, Brazil, and the economies of Southeast Asia were depressed. By early 1929, the economies of Poland, Argentina, and Canada were contracting, and the U.S. economy followed in the middle of 1929.
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: -The Depression was particularly long and severe in the United States and Europe; it was milder in Japan and much of Latin America.
Detailed explanation-4: -The economic troubles of the 1930s were worldwide in scope and effect. Economic instability led to political instability in many parts of the world. Political chaos, in turn, gave rise to dictatorial regimes such as Adolf Hitler’s in Germany and the military’s in Japan.