Choose given statement is true/false:

The First World War led to the Great Depression of 1929.

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Detailed Solution

The above statement is True.
The First World War led to the Great Depression of 1929.
Beginning approximately 1929, the Great Depression persisted until the middle of the 1930s. The majority of the world's regions during this time had catastrophic decreases in production, employment, incomes, and trade. There were various reasons that contributed to the depression. The decline in agricultural prices came first. Farmers strove to increase production and bring more food to market to retain their overall income when prices fell, and agricultural incomes decreased. As a result, the market's oversupply intensified, and prices fell even lower. Second, the withdrawal of loans by the US to European nations caused several banks' downfall and currencies' devaluation.

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