Question

Explain any 3 effects of great depression of 1929-1930 on US

Answer 1

*agriculture over production was a problem. this was made worse by falling agricultural prices. as prices slumped, agricultural income declined farmers tried to expand production to maintain their overall income.
*many countries financed loans from the us. now, US overseas lenders panicked at the sign of financial crisis.
*American capitalists stopped all loans to the European countries thus, halting all production there
*US doubled import duties as a precautionary method which was another severe blow to world trade
*1000s of banks were bankrupt and were forced to close. factories closed down leading to unemployment.