Research the Great Depression in America.
https://research.library.gsu.edu/ECON2100Edwards
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Write your paper, answering the following questions: What were the top causes of the depression? How did it impact people’s daily lives on a microeconomic
and macroeconomic scale? What efforts were taken to pull us out of the recession? Were these efforts successful?
Sample Solution
The Great Depression of the late 1920s and ’30s remains the longest and most severe economic downturn in modern history. Among the suggested causes of the Great Depression are: the stock market crash of 1929; the collapse of world trade due to the Smoot-Hawley Tariff; government policies; bank failures and panics; and the collapse of the money supply. On a microeconomic scale, people suffered greatly due to lost jobs or reduced wages as businesses closed up shop or moved production overseas. People were unable to afford basic necessities such as food and clothing due to decreased disposable income. At macroeconomic level we saw increased poverty rates across all developed nations accompanied by rising levels of public debt since government spending was needed for relief programs that served the needy during this period.
