20s/30s Flashcards
What are the four stages of the economy?
Prosperity , recession, depression, recovery
What happens when the economy is in prosperity?
The production of goods,sales, wages, and profits are all high, while business failure and unemployment are low
What happens when the economy is in recession?
Sales,wages, profits and production of goods are falling, while business failure and unemployment are on the rise
What happens when the economy is in a depression?
Sales, wages, profits, and production of goods are all low, while business failure and unemployment are high
What happens when the economy is in recovery?
Sales, wages, profits, and production of goods are rising while business failure and unemployment are lowering
What is the boom cycle?
- Market demand
- Increased investment
- Expansion of production
- Demand for goods+services
- Demand for labour increase
- wages increase
What are the stages of a depression cycle?
- Market demand declines
- Investment declines
- Production decreases
- Layoffs, unemployment
- Wages decrease
What are the six causes of the great depression?
Overproduction and overexpression
Dependence on primary products
Dependence on the us
High tariffs
Too much buying on credit
Credit buying of stock
What groups were barred from entering Canada?
Mennonites, doukhobors, hutterites, and chinese people
What was the statue of Westminster?
An agreement with Britain that Canada was now completely self governing
What was the halibut treaty?
When the us and Canada agreed on a season for fishing for halibut. Canada signed independent of Britain
Which three political parties formed in the 30’s?
Social Credit (William Aberhart), Co-operative commonwealth federation( James s. Woodworth), Union Nationale(Maurice dupless)
Who were the Dionne quintuplets?
The Dionne quintuplets were separated from their parents at a young age and raised by the government in a zoo where people would watch them like they were animals.
What was the dole?
An early form of unemployment insurance consisting of items rather than money.
What was the five cent speech?
In a speech in 1930, Mackenzie king claimed that he wouldn’t give 5 cents to the unemployed in any province with conservative government. this was a very unpopular claim and contributed to him losing the election.
