The Great Depression in the US was caused by income inequality, deflation, panic-induced bank failures, and inappropriate government responses.
The Great Depression of the 1930s in the United States was caused by various factors. The maldistribution of income, high levels of deflation discouraging economic activity, and panic leading to bank failures played significant roles. Additionally, government responses such as raising interest rates and restrictive policies exacerbated the economic downturn.
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