The 1920s

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• The decline in international trade: The Great Depression was also caused by a decline in international trade. This was due to a number of factors, including the Smoot-Hawley Tariff Act, which raised tariffs on imported goods. The decline in international trade led to a decrease in demand for goods, which further worsened the economic situation.
• The lack of government intervention: The government did not do enough to intervene in the economy during the Great Depression. This was due to a number of factors, including the belief that the government should not interfere in the economy. The lack of government intervention made it more difficult to recover from the Depression.

It is difficult to say whether the Great Depression could have been prevented. However, there are a number of things that could have been done to mitigate the effects of the Depression. For example, the government could have intervened in the economy earlier and more aggressively. The government could have also provided more support for businesses and workers. Herbert Hoover's initial response to the Depression was to focus on balanced budgets and limited government intervention. However, this approach did not work, and the Depression worsened. In 1932, Franklin D. Roosevelt was elected president, and he implemented a number of programs to help the economy recover. These programs, known as the New Deal, included Social Security, unemployment insurance, and public works projects. The New Deal helped to improve the lives of millions of Americans, and it helped to end the Great Depression. In my opinion, Herbert Hoover's initial response to the Depression was not effective. His focus on balanced budgets and limited government intervention did not help to improve the economy. However, I believe that the New Deal was a successful program that helped to end the Great Depression. The New Deal provided much-needed relief to millions of Americans, and it helped to stimulate the economy.

Sample Answer The Great Depression was a severe worldwide economic depression that took place mostly during the 1930s, beginning in the United States. The timing of the Great Depression varied across nations; in most countries, it started in 1929 and lasted until the late 1930s. It was the longest, deepest, and most widespread depression of the 20th century. There are many factors that contributed to the Great Depression, including:

• The stock market crash of 1929: The stock market crash of 1929 was a major turning point in the Great Depression. The crash wiped out billions of dollars in investments, and it led to a loss of confidence in the economy.
• The overproduction of goods: In the years leading up to the Great Depression, there was a significant overproduction of goods. This was due to a number of factors, including the introduction of new technologies and the expansion of credit. The overproduction of goods led to falling prices and profits, which in turn led to layoffs and unemployment.