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Was the Great Depression a historical aberration or was it a predictable outcome of the kind of economic system that existed in the US until the 1930s?
Wiki User
∙ 9y ago
yes
Wiki User
∙ 9y ago
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What is the opposite of economic depression?
Economic prosperity.
What happens during a period of depression in a country?
During an economic depression threes a lack of economic activity that can last for several years.
What did The Panic of 1837 eventually led to?
a worldwide economic crisis called the long depression
In which year was the peak of the great depression?
It was in the 1930 during which there was a severe world wide economic depression.
Westerners were not affected by the economic depression in 1819?
fALSE
What historical event is an example of economic contraction in the US?
the Great Depression
Is the US in an economic depression?
what is an economic depression?
Was the Great Depression historical or aberration or was it a predictable outcome of the kind of economic system that existed in the United States until 1930s?
The Great Depression was an aberration once all factors dealing with the banking system at the time are put into focus. Bank dealings through the Central Bank, i.e. the Federal Reserve, were based on a gold standard; meaning there was only so much paper money for the gold the United States had on hand. When the Federal Reserve sent money to England to prevent their depression the cash did not flow back to America in a timely fashion and therefore a shortage of cash money became apparent. As long as there was no run on the banks everything was fine. As soon as people withdrew money from the banking system, which was tied to how much gold the Federal Reserve had, the system crumbled and the Great Depression begun in full swing. The adherence to the gold standard prohibited the Federal Reserve from expanding the money supply. This is the main reason the United States no longer relies on the gold standard for the basis of the dollar.
WHAT IS AN ECONOMIC DEPRESSION?
The Great Depression
What is an example economic depression?
The Great Depression
What happens during an economic depression?
During an economic depression threes a lack of economic activity that can last for several years.
What is the opposite of economic depression?
Economic prosperity.
Were the westerners affected by the economic depression in 1819?
Westerners were not affected by the economic depression in 1819. t or f
Define economic depression and name at least one example of one?
An economic depression is a sustained, long-term downturn in economic activity in one or more economy. An obvious example is the U.S. Great Depression.
What caused an economic depression in the 1870s?
The Panic of 1873 caused an economic depression in the 1870s because banksacross the land closed .
What were Africa's depressions?
Ambiguous Question: Specify--- Psychological Depression Geographical Depression Economic Depression
When was the economic depression?
Right about now!
