Which of the following was NOT a cause of the Great Depression?

The correct answer is rooted in understanding the economic context of the Great Depression, which began in 1929 and led to a worldwide economic crisis. Increased agricultural production is not considered a cause of the Great Depression because, during the 1920s, this production often exceeded demand, particularly in the U.S., leading to falling prices for agricultural products. This, combined with other economic factors, contributed to the struggles of farmers, but the broad prosperity in terms of production was not a direct trigger for the economic collapse that characterized the 1930s.

In contrast, over-speculation in the stock market, high levels of consumer debt, and bank failures and collapses were closely related to the economic downturn. Over-speculation led to inflated stock values, which ultimately crashed and signified the start of the depression. High consumer debt meant that individuals and households were financially overextended, unable to sustain their spending when the economy began to falter. Bank failures resulted from a loss of depositor confidence and were a direct consequence of failing businesses and consumers, which further deepened the financial crisis. Thus, despite the challenges faced in agriculture, increased agricultural production did not serve as a catalyst for the Great Depression.