Final answer:
The Great Depression resulted in a significant global decrease in trade, numerous bank failures, and a substantial decrease in real GDP, all of which were much more severe than in an average recession. The correct answer is option d.
Step-by-step explanation:
The Great Depression was characterized by its intensity and the vast impact it had on the global economy compared to an average recession. During this period, trade decreased across the globe, with the worldwide GDP falling by 15 percent between 1929 and 1932. As a result, there were many more bank failures than in a typical recession, with thousands of banks going out of business due to shrinking economies and the recall of loans by U.S. banks to foreign businesses and countries.
Consequently, this led to massive economic downturns in other nations as well. In the United States, the Great Depression saw policies such as the Hawley-Smoot Tariff Act that intended to protect domestic industries but instead exacerbated trade issues, with world trade falling by more than forty percent. The economic situation was dire, with a substantial decrease in real GDP and stock market values, and a significant rise in unemployment rates, making the financial circumstances far more severe than those of a common recession.