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 United States had been forced to give up its investments in Latin America.
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The United States tried to collect on war debts owed by France and England.
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The Soviet Union had cut off all trade with the West.
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Lower tariffs had hurt American trade.
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Detailed explanation-1: -The Great Depression spread rapidly from the US to Europe and the rest of the world as a result of the close interconnection between the United States and European economies after World War I.
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: -Overproduction, executive inaction, ill-timed tariffs, and an inexperienced Federal Reserve all contributed to the Great Depression. The Great Depression’s legacy includes social programs, regulatory agencies, and government efforts to influence the economy and money supply.
Detailed explanation-4: -A combination of the New Deal and World War II lifted the U.S. out of the Depression.
Detailed explanation-5: -The Great Depression is attributed to the combination of the following factors: Tight monetary policies adopted by the Central Bank of America. 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-6: -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.