Question
Here is the question : WHAT MAJOR EVENT HELPED END THE GREAT DEPRESSION?
Option
Here is the option for the question :
- Space Race
- World War II
- Cold War
- FDR’s death
The Answer:
And, the answer for the the question is :
Explanation:
U.S. involvement in WWII and the conclusion of the Great Depression were both hastened by the bombing of Pearl Harbor on December 7, 1941. The military draft removed unemployed men from the labor market, while the increased production of goods to support the war effort led to the creation of new positions in the industrial sector. The combination of these two measures brought unemployment rates down to pre-Depression lows.
The Great Depression was a period of severe economic downturn that lasted from 1929 until the late 1930s. It was characterized by high unemployment rates, low economic growth, and widespread poverty. The cause of the Great Depression is still a matter of debate among economists, but it is generally agreed that a combination of factors, including the stock market crash of 1929, bank failures, and a decrease in consumer spending, contributed to its onset.
the Great Depression persisted for over a decade, until the outbreak of World War II in 1939. The war had a significant impact on the global economy, and it played a crucial role in bringing an end to the Great Depression.
One of the main ways in which World War II helped end the Great Depression was through the massive government spending that was required to fund the war effort. The United States, for example, spent over $300 billion on the war, which was more than double the amount that the government had spent on all of its programs and projects in the previous forty years combined. This spending created millions of jobs and stimulated economic growth, which helped to reduce unemployment and increase consumer spending.
the war also led to a significant increase in industrial production. The demand for military equipment and supplies was enormous, and companies that had been struggling to stay afloat during the Great Depression suddenly found themselves with plenty of orders to fill. This increased production created more jobs and helped to further stimulate economic growth.
Another factor that helped end the Great Depression was the fact that the war created new markets for American goods. Prior to the war, many countries had been reluctant to trade with the United States, which had contributed to the economic downturn. However, during the war, the United States became the primary supplier of military equipment and supplies to Allied nations, which created a massive new market for American goods.
Finally, the end of the war brought about a sense of optimism and hope for the future. The sacrifices that had been made during the war, combined with the economic growth that had occurred, created a sense of unity and purpose among Americans. This sense of optimism helped to fuel further economic growth and contributed to a period of prosperity that lasted for several decades.
World War II played a crucial role in bringing an end to the Great Depression. The massive government spending, increased industrial production, new markets for American goods, and sense of optimism that came out of the war helped to stimulate economic growth and reduce unemployment. While the costs of the war were significant, the benefits of the post-war economic boom were enormous, and they helped to create a period of prosperity that lasted for decades.