1. Compare and contrast the economic impacts of the Great Depression of the 1930s to the Great Recession of the 2000s.
The Great Depression and the Great Recession were similar in the sense that many people lost their jobs and went bankrupt. The stock market plummeted and many people and companies experienced financial turmoil. During the Great Depression, however, there were no government welfare programs available to help people get access to basic necessities like food, clothing, and shelter.
2. Imagine you are a grown adult with a family to feed during the 1930s. To what extent would you go to obtain a job?
Student answers will vary.
3. In 1932, the average weekly wages of those who had jobs was $16.21. Adjusted for inflation, this translates to about $270 in 2017. Imagine you are now earning $270 per week and create a weekly budget for yourself. Explain what aspects you're willing to spend more money on and what you're willing to give up.
Student answers will vary. Students should consider the cost of living in a particular place, food, clothing, transportation expenses, and leisure activities.