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Approximately by how much did aggregate output in the USA fall between 1929 and 1933, the period of the Great Depression?
AAbout 15 per cent
BAbout 33 per cent
CAbout 50 per cent
DAbout 5 per cent
Answer & Solution
Correct answer: B. About 33 per cent
Per the chapter, US aggregate output fell about 33% from 1929 to 1933 and unemployment rose from 3% to 25%. These are the canonical Great Depression statistics.
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