... rates would likely to be much higher. Real income output (real GDP) fell by 29% from 1929 to 1933 and the United States stock market lost 89.5% of its value. [Macroeconomics in the Global Economy, by Sachs and Larrain]. Another unusual aspect of the Great Depression was deflation. Prices in the U.K, Germany and France fell by 25%, 30% and 40% respectively ... ...

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• Approx Pages: 10
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