what was the effect of great depression on us ?
class 10
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It is far too simplistic to view the stock market crash as the single cause of the Great Depression. A healthy economy can recover from such a contraction. Long-term underlying causes sent the nation into a downward spiral of despair. ... Such wealth concentrated in the hands of a few limits economic growth.
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Hello friend ♥️
Great Depression, worldwide economic downturn that began in 1929 and lasted until about 1939. It was the longest and most severe depression ever experienced by the industrialized Western world, sparking fundamental changes in economic institutions, macroeconomic policy, and economic theory. Following are the effects of great depression:-
#1.. About 15 million Americans were jobless and almost half the United States' banks had failed by 1933.
#2.. The economy shrank 50 percent in the first five years of the depression. By the end of the year, 650 banks had failed. In 1930, the economy shrank another 8.5 percent.
#3.. At the beginning of the Great Depression, in the last year of the Roaring Twenties, unemployment was 3.2 percent. That's less than the natural rate of unemployment. By 1930, it had more than doubled to 8.7.
#4.. The stock market lost 90 percent of its value between 1929 and 1932.
#5.. As countries' economies worsened, they erected trade barriers to protect local industries.
#6.. Prices fell 30 percent between 1930 and 1932. Deflation helped consumers, whose income had fallen. It hurt farmers, businesses, and homeowners.
I hope this is helpful ♥️
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Great Depression, worldwide economic downturn that began in 1929 and lasted until about 1939. It was the longest and most severe depression ever experienced by the industrialized Western world, sparking fundamental changes in economic institutions, macroeconomic policy, and economic theory. Following are the effects of great depression:-
#1.. About 15 million Americans were jobless and almost half the United States' banks had failed by 1933.
#2.. The economy shrank 50 percent in the first five years of the depression. By the end of the year, 650 banks had failed. In 1930, the economy shrank another 8.5 percent.
#3.. At the beginning of the Great Depression, in the last year of the Roaring Twenties, unemployment was 3.2 percent. That's less than the natural rate of unemployment. By 1930, it had more than doubled to 8.7.
#4.. The stock market lost 90 percent of its value between 1929 and 1932.
#5.. As countries' economies worsened, they erected trade barriers to protect local industries.
#6.. Prices fell 30 percent between 1930 and 1932. Deflation helped consumers, whose income had fallen. It hurt farmers, businesses, and homeowners.
I hope this is helpful ♥️
PLEASE MARK ME AS BRAINLIEST ⭐⭐⭐
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