what was the impact of Great Depression
Answers
The Great Depression challenged American families in major ways, placing great economic, social, and psychological strains and demands upon families and their members. Families of various class, ethnic, racial, and regional backgrounds, exhibiting various styles of marital and familial relationships, responded in different manners to the stresses and demands placed upon them. In 1933, the average family income had dropped to $1,500, 40 percent less than the 1929 average family income of $2,300. Millions of families lost their savings as numerous banks collapsed in the early 1930s. Unable to make mortgage or rent payments, many were deprived of their homes or were evicted from their apartments. Both working-class and middle-class families were drastically affected by the Depression.
Answer:
:::The stock market crash of 1929.
:::During the 1920s the U.S. stock market underwent a historic expansion. ...
:::Banking panics and monetary contraction. ...
:::The gold standard. ...
:::Decreased international lending
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