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Great Depression also known in U.K. as the "Great Slump" was a dramatic, worldwide economic downturn beginning in some countries as early as 1928. The beginning of the Great Depression in the U.S. is associated with the Stock Market crash, on Oct. 29, 1929 known as "Black Tuesday". The Depression has devastating effects in both industrialized countries and those which exported raw materials. International trade declined sharply, as did personal income, tax revenues, prices and profits. The key cause of the Depression was the expansion of the money supply in the 1920's that lead to unsustainable credit driven boom. One reason for the monetary inflation was to help Great Britain, which in the 1920's was struggling with it's plan to return to the gold standar at pre-war (WWI) parity. Returning to the gold standard at this rate meant that the british economy was fully deflationary pressure.
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The industrial revolution had what with European economies?
The industrial revolution had European economies become wealthy than other regions of the world, thereby providing the needed capital for investment in new technologies.
Which of the following describes a similarity between the U.S. and European economies following World War 1?
Americans could invest in luxury goods like radios and automobiles, while European economies struggled to rebuild and grow. The postwar boom continued into the Roaring 20s.
What statement accurately compares Americas post world War 1 economy with Europe's?
Americans could invest in luxury goods like radios and automobiles, while European economies struggled to rebuild and grow. The postwar boom continued into the Roaring 20s.
Why did western European economies grow faster than eastern European economies grow faster after world war 2?
Under pressure from Stalin, Eastern European countries refused aid from the United States.
How did American diplomats plan for the postwar world and settle postwar issues?
American diplomats planned for the postwar world by participating in key conferences, such as Yalta and Potsdam, where they negotiated strategies for rebuilding Europe and establishing international cooperation. They promoted the establishment of the United Nations to foster global dialogue and prevent future conflicts. Additionally, the Marshall Plan was developed to aid European recovery, aiming to stabilize economies and prevent the spread of communism. These efforts reflected a commitment to creating a new order based on economic stability and collective security.
How were European nations able to rebuild economies devastated by world war 1?
One of the ways that the European Nations were able to rebuild economies devastated by World War I was by using the funds required to be paid by the Germans in the Treaty of Versailles.
How did the European colonization of the New World and the development of the Atlantic system affect the economies and politics of southwest Asia and the Indian Ocean?
Did the colonies of the New World affect the economies of Southwest Asia
What was the American program to rebuild European economies after World War 2?
ERP or the Marshall Plan .
Which parts of the modern world drive the world economy?
The United States and Western European economies have become the twin engines of the world economy.
The US program for rebuilding the economies of the European Countries after World War 2?
Was called the Marshall plan.
How did the killing of all the Jews in the Holocaust affect the economies of Europe?
In most European countries there was so much destruction as a result of World War 2 that it's not possible to separate this out from other factors that damaged many European economies.
Why did westeren European economies grow faster than eastern European economies after ww2?
Western European economies grew faster than Eastern European economies after World War II primarily due to differing economic systems and policies. Western Europe embraced capitalist market economies, benefiting from the Marshall Plan, which provided substantial financial aid for reconstruction and development. In contrast, Eastern Europe was dominated by Soviet-style command economies, which often stifled innovation and productivity. Additionally, political instability and repression in Eastern Europe hindered economic growth and integration with global markets.
