HISTORY
THE WORLD BETWEEN THE WARS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The Great Depression
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World War I
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The New Deal
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The Abdication
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Detailed explanation-1: -The Great Depression (1929–1939) was an economic shock that impacted most countries across the world.
Detailed explanation-2: -The main cause behind it was the fall of aggregate demand due to under-consumption and over-investment. The demand for goods In the economy was so low that the production was lowered and leading to unemployment. In the USA, the rate of unemployment increased from 3% to 25%.
Detailed explanation-3: -The country’s gross national product declined by over 25 percent within a year, and wages and salaries declined by $4 billion. Unemployment tripled, from 1.5 million at the end of 1929 to 4.5 million by the end of 1930. By mid-1930, the slide into economic chaos had begun but was nowhere near complete.
Detailed explanation-4: -The Depression was the longest and deepest downturn in the history of the United States and the modern industrial economy. The Great Depression began in August 1929, when the economic expansion of the Roaring Twenties came to an end. A series of financial crises punctuated the contraction.