Please write in question answer form For each event, describe the “Great Depres

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Please write in question answer form
For each event, describe the “Great Depression”, and the “Great
Recession”; compare and contrast the following:
—What was the size of the Unemployment problem, both the official
number and the actual number? What is the cause of the difference
between the two?
—What happened to the Price Levels in each case?
—What was the size of the negative output gap in each? What were
the economic costs of the losses?
—How long did each period last? How long did recovery take?
—Describe the3 major causes of each decline: ex; subprime
mortgage lending or stock market collapse, etc. There are a number
to be considered for each.
—Describe major policy maneuvers by the FED, and the Congress,
undertaken to alleviate the crisis. Did they work? If not, why not?
—What safeguards have been implemented to prevent any repeats?
—What were the costs to taxpayers for policies undertaken? Were
the benefits generated sufficient?
—In your opinion, will we see another depression? Another
recession like this? Why or why not?

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