The Great Depression was a world-wide economic downturn that began in 1929 and lasted for over a decade. It was characterized by a drastic decline in economic activity, widespread unemployment, and a sharp drop in international trade. It was not caused by the first oil embargo of the 1970s, nor was it a recession that occurred in the 1950s or a consequence of World War I.

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The Great Depression

Question 25

Multiple Choice

A) was the result of the first oil embargo of the 1970s.
B) was a particularly severe recession that occurred in the United States during the 1950s.
C) was a world wide economic downturn that started in 1929.
D) was a consequence of World War I.

Correct Answer: