Podcast
Play an AI-generated podcast conversation about this lesson
Questions and Answers
What event is widely believed to be the catalyst for the Great Depression?
What event is widely believed to be the catalyst for the Great Depression?
- The rise of the Nazi Party as the top political actor in Germany
- The loss of approximately 750,000 farms to bankruptcy or distressed sales
- The collapse of the US stock market in October 1929 (correct)
- The bankruptcy of nearly half of all US banks by 1935
What impact did the Great Depression have on global trade?
What impact did the Great Depression have on global trade?
- Global trade volume doubled during the Great Depression
- Global trade volume increased significantly
- Global trade volume crashed to half of its pre-crisis volume by 1932 (correct)
- Global trade volume remained stable
What led to the Nazi Party becoming the top political actor in Germany after the 1932 elections?
What led to the Nazi Party becoming the top political actor in Germany after the 1932 elections?
- The sovereign debt crisis in Europe
- The increase in global trade volume
- Unemployment in Europe reaching 25% (correct)
- The collapse of the US stock market in October 1929
Flashcards are hidden until you start studying
Study Notes
- The Great Depression was a global economic crisis that started in 1929 and continued until the late 1930s.
- The US stock market collapse in October 1929 is widely believed to be the catalyst for the depression.
- By 1932, US stocks were worth only 20% of their pre-crisis value.
- Nearly half of all US banks had failed by 1935.
- Approximately 750,000 farms were lost to bankruptcy or distressed sales during the depression.
- Unemployment in Europe reached 25% and many countries dealt with both the depression and a sovereign debt crisis.
- In Germany, for example, unemployment led to the Nazi Party becoming the top political actor after the 1932 elections.
- Worldwide trade was severely impacted by the Great Depression, leading to "trade wars" where countries limited imports and engaged in protectionist policies.
- By 1932, global trade had crashed to half of its pre-crisis volume.
- Unfortunately, trade wars degenerated into actual armed conflicts, causing over 16 million deaths during World War II.
- Economic factors have historically played a significant role in causing wars.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
