Great Depression - Elizabeth Christy Great Depression...

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Elizabeth Christy Great Depression 11/21/10 Instructor Kevin Camden MBA 510-D2B0 Economics Benedictine University Great Depression The most prolonged departure from our long-term growth path occurred during the Great Depression (Schiller, 2010 pg. 157). Between 1929 and 1933, total US output steadily declined, industrial production around the world fell 37 percent. The Great Depression wasn’t confined to the US economy, most countries suffered substantial losses of output and employment over a period of many years (Schiller, 2010 pg. 157). The United States and Germany suffered the largest losses, while Spain and the Scandinavian countries lost only modest amounts of output (Schiller, 2010 pg. 157). There were several causes of the Great Depression: Stock Market Crash of 1929, Bank Failures, and Reduction in Purchasing across the Board, American Economic Policy with Europe, and Drought Conditions.
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The stock market crash occurred on Black Tuesday, October 29, 1929 which is one and the same with the Great Depression. In fact, it was one of the major causes that led to the Great
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Great Depression - Elizabeth Christy Great Depression...

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