INTER WAR YEARS 1919 TO 1939
THE GREAT DEPRESSION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Two-thirds
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One-half
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One-fourth
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hree-fourths
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Detailed explanation-1: -In 1933, at the depth of the Depression, one in four workers was unemployed. In contrast, the unemployment rate had risen to 9.4% by May 2009. The number of jobs on nonfarm payrolls fell 24.3% between 1929 and 1933. Thus far during the current recession, firms have cut nonfarm employment by 4.3%.
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.
Detailed explanation-3: -The U.S. economy shrank by a third from the beginning of the Great Depression to the bottom four years later. 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%.