Give a definition of depression when it refers to economy

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The Great Depression in Australia
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  1. Give a definition of depression when it refers to economy.

The Great Depression was a time of unemployment, homelessness, and hopelessness. Distinguished from a recession by being prolonged and sustained. Stocks were also extremely low.

  1. When was the Great Depression in Australia?

The Great Depression of the 1930s was an economic catastrophe that severely affected most nations of the world, and Australia was not immune.

  1. What were Australia’s lowest and highest unemployment rates during the Great Depression?

Unemployment reached a record high of 29% in 1932 and gross domestic product declined by 10% between 1929 and 1931. There were also incidents of civil unrest, particularly in Australia's largest city, Sydney.

Unemployment also led to fathers leaving their families to find work to survive.

  1. What were the causes of the Great Depression?

The Great Depression happened in October, 1929. It was caused when the stock market crashed significantly.

  1. What were the social impacts of the Great Depression on Australians?

- Many families were struggling to keep up with the living standards.

- There were heaps of health issues, because people couldn’t afford to go to the doctors or the dentist.

- Some people took their lives because they couldn’t cope.

  1. List the political impacts of the Great Depression in Australia.

  • During the Great Depression, many Australians lost confidence in the abilities of their government representatives. A number of radical or extremist organisations gathered strength and popularity as a result of the large-scale public dissatisfaction.

  1. Who brought political stability to the Australian government after the effects of the Great Depression?

- At the time leading up to the Great Depression, the federal government did not have a centralised unemployment assistance program. Other than relief from charities and a patchwork of agencies and private organisations, destitute people had to rely on employment projects and public works projects often funded by state government loans from overseas.

  1. How much money was given to help unemployment in Australia?

Not a lot at all.

  1. What sorts of work were the unemployed given?

  • Catering

  • Warehouses

  • Call centers

  • Casual if they were lucky.

  1. What did Australia do in an attempt to solve its economic problems?

- At the start they set up tents for the unemployed/un-homed people to live in, which helped everyone get back on track with their living and working problems 


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