Why were farm families hit particularly hard by the Depression? During World War I, farmers worked hard to produce record crops and livestock. When prices fell they tried to produce even more to pay their debts, taxes and living expenses. Prices dropped so low later that they couldn’t pay off debts.
How did the Great Depression affect money?
(1) The stock market crash of 1929 shattered confidence in the American economy, resulting in sharp reductions in spending and investment. (2) Banking panics in the early 1930s caused many banks to fail, decreasing the pool of money available for loans.
How did the Great Depression affect the world economy quizlet?
How did the Great Depression affect the world economy? world trade had fallen more than 40%. Tariffs imposed by the US made unemployment worse in industries that could no longer export goods to Europe. Higher unemployment rate, increasing racial violence, deported, expelled from the country.
How did the Great Depression affect countries throughout the world quizlet?
-The Great Depression had devastating effects in virtually every country, rich and poor. -Personal income, tax revenue, profits and prices dropped, while international trade plunged by more than 50%. -Unemployment in the U.S. rose to 25%, and in some countries rose as high as 33%.
Who was hit the hardest by the Great Depression?
The poor were hit the hardest. By 1932, Harlem had an unemployment rate of 50 percent and property owned or managed by blacks fell from 30 percent to 5 percent in 1935. Farmers in the Midwest were doubly hit by economic downturns and the Dust Bowl.
What happened to normal workers during the Great Depression?
What happened to ordinary workers during the Great Depression? Unemployment leaped from 3 percent 1929 to 25 percent 1933. one out of every four workers was out of a job. those who kept their jobs faced pay cuts and reduced hours.
