1/12 U.S history exam "Crash & Depression".

Question 1

Causes of the farming crisis in the 1920s

Answer 1

• Demand crops fell after WW1
• A great deal of land was made infertile by the Dust Bowl
• Government price support for corn and wheat were not effective

Question 2

Hoovervilles

Answer 2

-A shanty town was named after Hoover show people’s disgust with him for not ending a great deal

Question 3

Unemployment

Answer 3

25 %

Question 4

Bull market

Answer 4

a period of rising stock prices

Question 5

Gross Dometic Product (GDP)

Gross National Product (GNP)

Answer 5

applies to the total market values of all good and services produced by a country during a specific period of time

Question 6

1928 presidential election

Answer 6

Hoover ran the Republican (Victor)

Al Smith ran the Democrats

Question 7

Credit

Answer 7

A credit balance on your billing statement is an amount that the card issuer owes you. Credits are added to your account each time you make a payment

Question 8

Speculation

Answer 8

Making extremely risky business transactions on a change of making a quick profit

Question 9

Warning signs of approaching crisis

Answer 9

-Dropped in:
+Mining (Coal mining)
+Railroad transportations
+New house construction

Question 10

How

Answer 10

-During WW1 the demand for crops rose and prices soared as a result farmers boosted production depress the prices. After the war, both demand and prices dropped as a result farmers boosted production further depress the price. They can’t pay the mortgages, lost their farms and many banks begin to close.