THE GREAT DEPRESSION 1929 1940
THE GREAT DEPRESSION
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Americans were going to too many jazz concerts
|
|
|
Business was booming, and profits were distributed equally among workers and mangers
|
|
|
America was mired in costly wars at both times
|
|
|
Americans were spending too much money they didn’t have
|
Detailed explanation-1: -What were the major causes of the Great Depression? Among the suggested causes of the Great Depression are: the stock market crash of 1929; the collapse of world trade due to the Smoot-Hawley Tariff; government policies; bank failures and panics; and the collapse of the money supply.
Detailed explanation-2: -Question: What did the Great Depression and the Great Recession have in common? Answer: Huge economic slumps accompanied both. Also, the diagnoses and prescriptions were the same. Both catastrophes were laid at the feet of market failure (read: the capitalist system is inherently flawed and prone to failure).
Detailed explanation-3: -1 Unemployment rose to 25%, and homelessness increased. 2 Housing prices plummeted, international trade collapsed, and deflation soared. 3 It took 25 years for the stock market to recover.