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Question

What measures were taken by countries to control the adverse effects of the Great Depression?
  1. Lower the number of imported goods
  2. Redirect all the country's financial assets to first repay any outstanding debts from the First World War
  3. Devalue the domestic currency to make exports cheaper
  4. Reduce taxes


Solution

The correct options are
A Lower the number of imported goods
C Devalue the domestic currency to make exports cheaper
Countries tried to cut expenditure and increase taxation to curb the effects of the Great Depression. Policies of protectionism and devaluation of currency were adopted. Protectionism lowered the number of imported goods and devaluation of currency lowered the value of the domestic currency and exports were made cheaper.

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