what was the impact of the economic depression on Germany ?
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Explanation:
Great Depression led to economic crises in Germany. By 1932, industrial production was reduced to 40 percent of the 1929 level. As a result, jobs were cut and many workers became unemployed. Wages of the employed workers were also reduced.
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Explanation:
Impact of the economic depression on Germany -
- The Great Depression affected all capitalist economies in the world.
- American banks immediately withdrew the loans they had made to Germany.
- Businesses closed, unemployment rose and inflation was rampant.
- German money had so little value, that it might take a wheelbarrow full of notes to buy a few groceries
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