Answer the following questions.
1) What was the impact of the great depression on the US ?
2) Explain the impact on Germany because of her refusal to pay war compensation in 1923 ?
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Explanation:
The Great Depression of 1929 devastated the U.S. economy. The reason for the depression was the stock market crash that shattered the American economy, resulting in reductions in spending and purchase. Industrial production dropped, and unemployment increased by 20 per cent.
Germany refusal to pay war compensation in 1923 was the economic failure of the country. The hyperinflation in 1923 happened when the Weimar government printed banknotes to return payments. The country sunk into depression with high unemployment.
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