Question

Which was a social consequence of the Great Depression?

Answer 1

A social consequence of the Great Depression is that many American lost their jobs. The major effect of this economic crisis was mass unemployment. Industrial production halved, 20000 businesses went bankrupt and shut down and foreign exports plummeted. 25% of the population which are about 12million people lost their jobs and became unemployed and as a result they were unable to feed themselves, repay their debts,  pay their rent or mortgage or  even support their family.

Answer 2

The Great Depression led unemployment as it causes shut down of around, 20000 businesses. Most of the industries went bankrupt and export got plummeted totally. These all led to widespread starvation, unemployment and bank raspy.  

Further Explanations:

The United States had a booming economy during the pre-war years and itsindustrial manufacturingwas at its peak during the war era. In 1917, the United States emerged asa financier of the war and gave loans to Britain, France, Italy, and Russia. The shattering effects of the World War left the economies of Britain and France entirely shattered. The British and the French took loans from American banks to reestablish their economy and these banks lacked finance. This caused immense pressure on the European countries, who could not return the American loans, and their exchangefellconsiderably. The disappointment to pay loansdepleted federal Reserves.

The shattering result of the First World War left the economies of the United Nations in a  severe condition and caused the Great Depression which led to the fall of economies of European countries and the USA. Protectionism, Congressional tariffs, and speculation further contributed to the stock market collapse of the United States, and the constant decline in the buying of shares. By 1933, most of Europe and the USA were in the clutches of the Great Depression, leaving many unemployed.

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Answer Details-  

Grade: High School.

Chapter: The Great Depression

Subject: History.

Keywords: Great Depression, stock market crash, economy, war reparations, economic devastation, loans, recalling of loans, stock crash, federal reserves.