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The unemployment rate rose to 25% in the USA at it was the highest rate during the time of Depression. It means that a quarter of all population didn’t have any means of subsistence even though plants and factories were doing their best to save their workforce.
At one moment they were not capable to pay the debts, some of them had loans, the issues that occurred in the economy made them go bankrupt.
As a result, they lost their lost business, all means of subsistence on a large scale. The unemployment rate was rising unquestionably in big industrialized cities, in those areas where people were working in one particular industry.
Interesting that the Gold Standard abandonment together with the ensuing monetary expansion made the recovery possible. It included both huge changes in economic policy and extreme suffering of the people.
The stock market crash that happened in 1929 was not the only cause of the Depression, it became a kind of acceleration of global economic crisis, it started irreversible processes.
Thousands of small farmers took agricultural equipment from the governments.
They rented it according to some programs, they had to pay money for the renting these tools.If you want to create a successful paper, you can check some tips on how to make your college essay stand out.The Great Depression is one of the most tragical economic phenomena that took place in the American history and in the world history.The stock market failure affected all Americans as the customers: they stopped getting the salary, they stopped spending money, buying goods as much as they did before because they didn’t have this opportunity anymore.These trade issues influenced all the companies, reduced sales, income.This enormous financial crisis had a momentous impact on employment in the U. Factories, plants, stores were shut down around the country from California to New York, a lot of workers lost their jobs and ability to live.Before the Great Depression has started, people refused to go on government welfare.If you are a school, college or university student, you will have to submit a lot of writing assignments. It seems creative task and not hard to complete but it has some peculiarities and requirements.Here we will give you a good example of the Great Depression essay which took place in the United States.For example, they called the land which suffered from the most severe influence Hooverville.What is the connection between the Great Depression and the Gold Standard?