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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Americans building up personal debt
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Banks making a lot of very safe loans
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Americans refusing to play the stock market
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A lack of developed farm land in the Midwest and Great Plains
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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: -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-3: -Causes of Great Depression Stock market crash of 1929. The failure of banks, which was the impact of the stock market crash as more people withdrew their savings from the banks leading to closure.
Detailed explanation-4: -The economic trends of the 1920’s that helped cause the Great Depression were, the people’s extreme faith in the economy. Everyone was spending their money freely, and believing they would get paid back. Which left to the inevitable demise of the economy failing, and the people losing their money with no savings.