HISTORY
THE WORLD BETWEEN THE WARS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Easy Credit (easy to get loans)
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Manufacturing Practices (over-producing and stockpiling)
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Trade Problems (international trade down by 50%)
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Bank Issues (too much money loaned to pay people back)
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Unemployment (can’t pay back debts without jobs)
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Detailed explanation-1: -The causes of the Great Depression included the stock market crash of 1929, bank failures, and a drought that lasted throughout the 1930s. During this time, the nation faced high unemployment, people lost their homes and possessions, and nearly half of American banks closed.
Detailed explanation-2: -At the height of the Depression in 1933, 24.9% of the nation’s total work force, 12, 830, 000 people, were unemployed. Wage income for workers who were lucky enough to have kept their jobs fell 42.5% between 1929 and 1933. It was the worst economic disaster in American history.
Detailed explanation-3: -Which of the following was NOT a cause of the Great Depression? The Dust Bowl occurred during the Great Depression, and made it last longer, but it was not one of the causes.
Detailed explanation-4: -Devastating effects were seen in both rich and poor countries with falling personal income, prices, tax revenues, and profits. International trade fell by more than 50%, unemployment in the U.S. rose to 23% and in some countries rose as high as 33%.