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How did the uneven distribution of the nation's wealth weaken the American economy in the 1920s?
Wiki User
∙ 9y ago
The economy of the United States crashed in 1929 and caused the Great Depression. The uneven distribution of wealth led to this because the poor had no money at all, and the rich had all of the money. When the economy crashed, everyone lost money.
Wiki User
∙ 9y ago
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Why was uneven distribution of income bad for the economy?
Unequal distribution of income meant that most Americans could not participate fully in the economic advances of the 1920s. Many people did not have the money to purchase the flod of goods that factories produced.
What are three limitations of using GDP as a measure of the nations economy?
GDP only counts goods and services that pass through markets. The GDP fails to measure or express changes in a nation's income distribution, quality of life, unpaid labor, intangible valuables, real savings, standard of living, uneven inflationary price changes, and transactions on the blackmarket.
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Why was uneven distribution of income bad for the economy?
Unequal distribution of income meant that most Americans could not participate fully in the economic advances of the 1920s. Many people did not have the money to purchase the flod of goods that factories produced.
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Heterogeneous
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