Question

describe the impact of great dipresion on us economy

Answer 1

The Great Depression of 1929 devastated the U.S. economy. Half of all banks failed. Unemployment rose to 25 percent and homelessness increased. Housing prices plummeted 30 percent, international trade collapsed by 60 percent, and prices fell 10 percent per year. It took 25 years for the stock market to recover.

But there were some beneficial effects. The New Deal programs installed safeguards to make it less likely that the Depression could happen again.

The economy shrank 50 percent in the first five years of the ​depression. In 1929, economic output was $105 billion, as measured by gross domestic product. That's the equivalent of $1.057 trillion today.