The Great Depression. This activity will provide the instructor with a general idea of what the class understands about the Great Depression and their comprehension of important concepts. Definitions of the important terms you need to know about in order to understand The Great Depression (1920–1940), including Agricultural Adjustment Administration (AAA), “Bonus Army”, Civilian Conservation Corps (CCC), Crash of 1929, Dawes Plan, Eighteenth Amendment, Emergency Banking Relief Act, Emergency Quota Act, Fair Labor Standards Act, Federal Deposit Insurance Corporation … At the time, the International Monetary Fund (IMF) concluded that it was the most severe economic and financial meltdown since the Great Depression. The Panic heralded the transition of the nation from its colonial commercial status with Europe toward an independent economy. The Great Depression was a complex event, and understanding what happened is no small challenge. 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 the world; in most countries, it started in 1929 and lasted until the late 1930s. Franklin Delano Roosevelt was elected president in 1932. Timing and Depth of the Depression . Throughout the Great Depression, he donated an average of $25,000 annually to various relief organizations to assist in their efforts. B) hesitating to act, then doing too little too late. This blueprint was greatly expanded by Hoover’s successor, Franklin Roosevelt. The idea that war is good for the economy is, needless to say, a fallacious argument which itself is based on incorrect economic data. Great Depression, worldwide economic downturn that began in 1929 and lasted until about 1939.It was the longest and most severe depression ever experienced by the industrialized Western world, sparking fundamental changes in economic institutions, macroeconomic policy, and economic theory. The only other time this occurred in the history of the US economy was during the Great Depression of the 1930s. Historians still debate exactly why the Great Depression was so severe, but they generally agree that it was the result of a confluence of factors. The Great Depression (1929-39) was the deepest and longest-lasting economic downturn in the history of the Western industrialized world. In Germany, the Depression left six million people, more than one-third of the working population, without a job. 3. There was not a large middle class. C)The Great Depression illustrates that trade restrictions will protect domestic industry and save jobs. Adolf Hitler knew his opportunity had arrived. During the first five years of the depression, the economy shrank 50%. We’ll start by breaking down the timeline of how exactly the Depression unfolded, which we’ll break up into into four distinct phases. Smith Collection / Gado / Getty Images. The idea that the Great Depression was finally brought to an end by the onset of WWII has been a staple of history textbooks, documentaries and various war propaganda for decades. National Archives, Washington, D.C. (12573155) The Great Depression of the late 1920s and ’30s remains the longest and most severe economic downturn in modern history. The Great Depression Questions and Answers - Discover the eNotes.com community of teachers, mentors and students just like you that can answer any question you might have on The Great Depression Unemployment was the most noticeable effect of the Depression. Test your knowledge on all of The Great Depression (1920–1940). 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