Depression - Economic Impact Flashcards
1
Q
When was the Wall Street Crash?
A
October 1929
2
Q
Why did the Wall Street Crash impact Germany so much?
A
- economic growth relied on UA loans/investment
- USA demanded repayment of current loans
3
Q
% decline in exports for Germany (1929-1932)
A
61%
4
Q
% decline in industrial production (1929-1932)
A
58%
5
Q
% decline in industrial production in UK (1929-1932)
A
11%
6
Q
How did businesses try to save money?
A
- reduce working hours
- fire workers
- cut wages
7
Q
% of Germans registered unemployed in 1932
A
33%
8
Q
Total number of unemployed in January 1933
A
8 million
9
Q
Regions of Germany severely hit by Depression
A
- Ruhr valley
- Silesia
- Hamburg
10
Q
Impact of Wall Street Crash on farmers
A
- prices dropped
- Loans needed repaying
- Exports plummeted
