What Were the Underlying Causes of the Great Depression

question 95

Essay

What were the underlying causes of the Great Depression?

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Definitions:

Wage Rate

The standard amount of compensation paid to employees per unit of time worked, such as an hour or a year.

Firms

Businesses or companies that produce goods or provide services in exchange for monetary profit.

Hired Workers

Individuals employed to perform services or labor for compensation under the direction of an employer.

Derived Demand

Demand for a product or service that results from the demand for another good or service, like the demand for steel driven by demand for cars.