HISTORY
WORLD WAR II
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Citizens gained wealth by mass producing consumer goods in the 1920s but struggled through a major economic depression in the 1930s.
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The government was in debt from years of fighting in World War I and became dependent on loans from European banks
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The USA was a major superpower and took a leadership role in the new League of Nations
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Farms, towns, and factorieswere destroyed by five years of fighting in World War I which led to a major depression in the 1920s and 1930s
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Detailed explanation-1: -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-2: -Great Depression, worldwide economic downturn that began in 1929 and lasted until about 1939. It was the longest and most severe depression ever experienced by the industrialized Western world, sparking fundamental changes in economic institutions, macroeconomic policy, and economic theory.
Detailed explanation-3: -The main reasons for America’s economic boom in the 1920s were technological progress which led to the mass production of goods, the electrification of America, new mass marketing techniques, the availability of cheap credit and increased employment which, in turn, created a huge amount of consumers.
Detailed explanation-4: -Mobilizing the economy for world war finally cured the depression. Millions of men and women joined the armed forces, and even larger numbers went to work in well-paying defense jobs.