Which was a major result of the Great Depression of 1929?

Social Studies

1 answer:

lora16 [44]3 years ago

7 0

Answer:

The major result of the Great depression was economic crisis.

Explanation:

The Great Depression of 1929 was a time the stock market collapsed in the United States, and this was immediately preceding World War I. It led to a huge decline in the country's economy. The Great Depression did not only affect the country's economy but also politics as capitalism declined.

As a result of the Great Depression, unemployment increased, the banks in the states could not lend out money, and neither could they get profit in return, people could no longer afford to pay for housing which rendered many homeless, etc. However, efforts were made under the administration of Herbert Hoover, which failed.

With the era of Franklin D. Roosevelt, a program was created named the "New Deal" which helped cure the economic crisis.

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