Question

The Great Depression. Read the prompt carefully, making sure to answer all parts of the question.

Jeremy Attack and Peter Passell outline three economic models or frameworks that together help explain the onset and the spread of the Great Depression in the United States. Describe briefly the main phases of the Great Depression in the US. Be sure to evaluate the usefulness of the three models in explaining the onset and the spread of the Depression. In term of the recovery from the Depression, which factor does Christina Romer single out as especially important for the US? Do you agree with Romer? Be sure to justify your answer.