Describe reasons and results of world's great depression or recession.
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Answers
Answer:
Reasons:-
1. Banking panics and bank failures in the U.S. and elsewhere in 1930-33
2. A monumental decline in spending that generated a decline in production
3. Decision-making by the U.S. Federal Reserve that caused declines in the money supply
4. Excessive stock-market speculation in the U.S. that resulted in the Great Crash of 1929
5. Maintenance of the international gold standard
6. The Smoot-Hawley Tariff Act and other protectionist trade policies
Results:-
1. Development of Keynesian economics
2. End of the international gold standard by the late 1930s
3. Expanded influence of labour unions and organized labour through legislation such as the Wagner Act in the U.S.
4. Implementation of the New Deal in the U.S. and welfare-state policies internationally
5. Increased government oversight of financial markets by the U.S. Securities and Exchange Commission and other new regulatory agencies
6. Precipitous decline in standards of living around the world
7. Up to 25% unemployment in industrialized countries in the early 1930s
Hope it helps you.
Answer:
Oh nice mere abhi papers nh hoe due to corona
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