WORLD WAR II 1941 1945
THE START OF THE SECOND WORLD WAR
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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People were borrowing more money than they could pay back
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A new game called poker took the country by storm
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People were investing in overvalued stocks
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Repossession of goods put up for collateral for bank payments
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Detailed explanation-1: -The money stock fell during the Great Depression primarily because of banking panics. Banking systems rely on the confidence of depositors that they will be able to access their funds in banks whenever they need them.
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: -Reduced prices and reduced output resulted in lower incomes in wages, rents, dividends, and profits throughout the economy. Factories were shut down, farms and homes were lost to foreclosure, mills and mines were abandoned, and people went hungry.
Detailed explanation-4: -Money Making Ideas. Chopped and Sold Wood-The production of lumber fell drastically during the depression, but people still needed to heat their stoves. Chopping and selling wood was one occupation many turned to. Mowed Lawns-Many folks would mow lawns and offer other types of yard work services.