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The United Kingdom and the Great Depression—When did the British economy first feel the effects of the American-triggered Great Depression? Include information on the United Kingdom’s change in GDP, unemployment rates, national debt, and effects on its international trade (both import and export). Create an argument on the extent that the Great Depression affected the United Kingdom (barely affected, moderately affected, or strongly affected) based on the change in the numbers you found in your research.

User Deepak Raj
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Answer:

the Great Depression strongly affected the United Kingdom

Step-by-step explanation:

The United Kingdom felt the effects of the Great Depression in the early 1930s, soon after the Wall Street Crash of 1929 in the United States. The country's economy was heavily dependent on international trade, especially with the United States, so when the US economy collapsed, it had a significant impact on the UK's economy.

Between 1929 and 1932, the UK's Gross Domestic Product (GDP) fell by over 5%, and unemployment rates rose from 10% to 20%. The government's response to the crisis was to pursue a policy of deflation, which involved reducing government spending and increasing taxes, but this only worsened the economic situation.

In addition to high unemployment rates and a declining GDP, the UK also experienced a significant increase in national debt during the Great Depression. By 1932, the country's debt had more than doubled, reaching over £2 billion.

The effects of the Great Depression on the UK's international trade were also significant. As the global economy contracted, demand for British goods fell, leading to a decrease in exports. At the same time, the UK's ability to import goods was limited by its diminishing foreign exchange reserves.

Overall, the Great Depression strongly affected the United Kingdom. The country experienced a sharp contraction in its economy, high levels of unemployment, a significant increase in national debt, and a decline in international trade. These factors had a lasting impact on the UK's economy, and the country did not fully recover until the onset of World War II.

User Bukart
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