Choose if the given statement is true/false:

After the First World War ended, the global economy began to decline.

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Detailed Solution

The above statement is true.
After the First World War ended, the global economy began to decline. Following World War I, most of the world endured an economic downturn. The conflict has resulted in a significant increase in demand, output, and employment. After the postwar optimism faded, output fell, and unemployment rose. Concurrently, the government lowered excessive war spending to match peacetime revenues. Many agricultural sectors were also struggling. Before the conflict, Eastern European wheat growers were a significant supplier of wheat to the global market. Wheat production exploded in Canada, America, and Australia when the war limited supplies. Wheat was overproduced due to the postwar resurgence of eastern European agriculture.

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