Question

two features of great depression​

Answer 1

Answer:

1. Price of comodities increased

2. Agricultural overproduction was the main factor.

3. Major banks and companies collasped as us called back loans.

4. Farms could not sell their harvest.

5.  Many households could not repay the loan that they had taken and were forced to give up their properties.

6. Unemployment soared and people travelled in search of work.

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Answer 2

Answer:

1. Economy Effects of the great depressions

• During the first five years of the depression, the economy shrank 50%.
• In 1929, economic output was $105 billion, as measured by gross domestic product.
• The economy began shrinking in August 1929. By the end of the year, 650 banks had failed.

2. Political

• The Depression affected politics by shaking confidence in unfettered capitalism.
• That type of laissez-faire economics is what President Herbert Hoover advocated, and it had failed.
• As a result, people voted for Franklin Roosevelt. His Keynesian economics promised that government spending would end the Depression.
• The New Deal worked. In 1934, the economy grew 10.8% and unemployment declined.

3.Social

• To make things worse, prices for agricultural products dropped to their lowest level since the Civil War.
• As farmers left in search of work, they became homeless.
• Almost 6,000 shantytowns, called Hoovervilles, sprang up in the 1930s.
• Wages for those who still had jobs fell 42%. Average family incomes dropped 40% from $2,300 in 1929 to $1,500 in 1933.
• That's like having income fall from $32,181 to $20,988 in 2016

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