The Year 1933 was called the lowest-point because it is when more than 15 million Americans became unemployed and more than half of country's banks failed.
What is period of great depression?
It was a period of economic downturn in the history of the industrialized world that was caused by the stock market collapse in the late 1920s.
Some effect of the Great Depression acros the globe includes:
- high rate of unemployment
- high rate of homelessness
- collapse of international trade
- high rate of deflation etc.
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