Answer:
See the explanation below.
Explanation:
Great depression was started in 1929 and it's negative effect lasted till the beginning of 2nd World War. During this period global GDP fell by around 15 percent. It's intensity can be estimated from the fact that during Great recession of 2008-2009 the global GDP fell by around 1 percent only. Great depression was marked by steep in the industrial production and price deflation.
Major causes for the Great depression of 1929:
- Fall of stock market led to loss of confidence in economy which hence reduced the investment and spending.
- Banking panic caused many banks to fail which in result reduced money supply.
- Imposition of steep tariffs on industrial and agricultural caused global trade to shrink.
Result of Great depression was that around 20 percent banks failed by 1933, unemployment rate reached more than 25 percent, Industrial production declined to around 50 percent and GDP fell near to 30 percent.
Recovery of United States economy was majorly led by government spending on social welfare program along with currency devaluation and spending during the 2nd World War.
I hope this will help.
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<span>Answer:
British imperial attempts to reassert control over its colonies and the colonial reaction to these attempts produced a new American republic, along with struggles over the new nation’s social, political, and economic identity.</span>
