The first thing you need is obviously a replacement water heater element, and also a socket to fit. The most common size is 1 1/2â³, and a couple of screwdrivers and nut drivers depending on exactly what you need on your water heater to expose the element.
Essentially, the Great Depression, in their view, was caused by the fall of the money supply. The result was what Friedman calls the Great Contraction â a period of falling income, prices, and employment caused by the choking effects of a restricted money supply.
What were the Four Causes of the Great Depression. High demands for consumer goods and agricultural products led to overpopulation. Buying on credit increased personal debt. Buying on margin was a risky market practice--. Bank loans for stock purchases was an unsound practice. The Smoot-Hawley Tariff created trade war worsened world economic conditions.