Which of the following was the consequence of Germany's economic crisis?

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Both 1 and 2

The savings of salaried employees and pensioners diminished.

There was a surplus amount of jobs in the market.

Small businessmen suffered huge losses.

answer is D.

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Detailed Solution

The consequences of Germany's economic crisis were that the savings of salaried employees and pensioners diminished and Small businessmen suffered huge losses.
The German economy was severely impacted by the Great Depression (1929–1922). Industrial production had fallen to 40% of 1929 levels by 1932. Employees either lost their jobs or received pay reductions. The unemployment population reached an all-time high of 6 million. People were deeply fearful and anxious. When the currency lost value, the middle classes, particularly paid workers and retirees, saw their savings shrink. Retailers, sole proprietors, and small company owners suffered as a result of the collapse of their industries. A rapid decline in agricultural prices had a significant negative impact on the overwhelming majority of the peasantry, and mothers felt profound desperation because they were unable to feed their children.

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