The economy of ____ was worst hit by the economic crisis caused by the Great Economic Depression.

see full answer

Your Exam Success, Personally Taken Care Of

1:1 expert mentors customize learning to your strength and weaknesses – so you score higher in school , IIT JEE and NEET entrance exams.

An Intiative by Sri Chaitanya

(Unlock A.I Detailed Solution for FREE)

Best Courses for You

JEE

NEET

Foundation JEE

Foundation NEET

CBSE

Detailed Solution

The economy of Germany was worst hit by the economic crisis caused by the Great Economic Depression. After bailing out of the economic crisis of 1923, the German economy depended on aid from the United States of America in short-term loans. After the Great Economic Depression of 1929, the United States of America withdrew support from Germany. Hence, the German economy was worst hit by the economic crisis led by the Great Economic Depression in 1929. The effects were grave. In Germany, by 1932, industrial production had reduced to just 40 percent of what it was in 1929. Many workers became unemployed, and the wages were reduced significantly. There were more than 6 million people who were unemployed in Germany.

Watch 3-min video & get full concept clarity