HISTORY
THE WORLD BETWEEN THE WARS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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it would allow countries to have more international trade
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it would force citizens to buy products from their own country
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it would force citizens to buy products from foreign countries
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it allowed countries to trade for products people wanted
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Detailed explanation-1: -An economic depression is an occurrence wherein an economy is in a state of financial turmoil, often the result of a period of negative activity based on the country’s Gross Domestic Product (GDP) rate. It is a lot worse than a recession, with GDP falling significantly, and usually lasts for many years.
Detailed explanation-2: -Roosevelt’s “New Deal” aimed at promoting economic recovery and putting Americans back to work through Federal activism. New Federal agencies attempted to control agricultural production, stabilize wages and prices, and create a vast public works program for the unemployed.
Detailed explanation-3: -The Depression was particularly long and severe in the United States and Europe; it was milder in Japan and much of Latin America. Perhaps not surprisingly, the worst depression ever experienced by the world economy stemmed from a multitude of causes.
Detailed explanation-4: -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-5: -Based on the assumption that the power of the federal government was needed to get the country out of the depression, the first days of Roosevelt’s administration saw the passage of banking reform laws, emergency relief programs, work relief programs, and agricultural programs.
Detailed explanation-6: -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.