The Great Depression Mystery

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The Great Depression Depression

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Presentation transcript:

The Great Depression Mystery Whatdunnit? The Great Depression Mystery

1920s prosperity House and automobile sales Credit LACK PANTS! Lots of job creation Multiplier effect One person’s spending becomes income to another person, who in turn can spend more and add to the income of others.

Economic Depression (1929-1939) Reverse multiplier effect Home and automobile sales began to fall Job creation and expansion slowed Unemployment rose

Business Cycle A slowdown in business activity (a recession) begins with a fall in demand for durable goods. Durable goods Goods that are relatively expensive and don’t wear out quickly, such as cars or refrigerators.

Depression Demand for durable goods wear out and prices fall. Normally some people begin to buy again and the economy will begin to recover…

depression-whatdunnit? Instead of coming out the recession, we experienced a severe long lasting depression Why??? Stock Market crash 1929, investors were not confident Banks closed in record numbers 1930-1933 Money supply reduced by 1/3