Which of the following did not happen due to the Great Economic Depression?
1 point
Hyperinflation in Germany
The national income of USA fell by half
Industrial production reduced to 40% in Germany
Factories shut down in USA
Speculators withdrew their money from the markets
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The correct option is e) Speculators withdrew their money from the markets.
- The Great Economic Depression(1929-1932) took affected the whole world. The two supreme powers of that time Germany and U.S.A were badly affected by the Great Economic Depression.
- The wall street crash of 1929 is a significant event of the great economic depression. It caused a lot of job losses, losses to businesses, and crashed the stock market.
- People lost their jobs and factories closed down.
- There was hyperinflation in Germany. The youth was unemployed with flimsy future.
- In the USA, the national income was affected a lot and fell down by almost 50%.
- All in all, it can be said that the Great Economic Depression crippled the economy in Germany and USA.
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