3/2 Class

Question 1

next time

Answer 1

get the reading done

Question 2

in your paper

Answer 2

you need to make critical points on the paper.
common mistakes:
assume reader has read the article you have
most common writing mistake:
passive voice,
ex: mistakes were made
also avoid first person

Question 3

Exam 2

Answer 3

Monday March 30

Question 4

how bad was the depression

Answer 4

stocks gained 200 percent, and business had gotten too concentrated, before black thursday there was a records 16.5 million shares traded on the exchange. Black thursday was an 11 percent drop.

Question 5

1920s

Answer 5

many bank failures

Question 6

average prices for KS Wheat

Answer 6

1925: 1.48
1927: 1.24
1929: .99
1930: .63
1932: .33

Question 7

what caused the depression?

Answer 7

speculative bubble,

Question 8

Keynesian analysis

Answer 8

1. Mature Economy Doctrine: the economies are mature and growth will slow
2. Unemployment Equilibrium: argued that you can get stuck in quick sand and be in a permanent level of high unemployment
3. Mature Economy Doctrine: Fewer Innovations

Question 9

1920s as a Ponzi Scheme

Answer 9

most of the prosperity was real, but a lot wasn’t

Question 10

depression

Answer 10

the result of unscrupulous financial practice

Question 11

the Great Crash

Answer 11

could have been the reason of the great crash

Question 12

public policy

Answer 12

federal reserve’s fault the recession was so bad

Question 13

money supply argument

Answer 13

you cut rates in low economic activity

Question 14

Peter Termins Response

Answer 14

It was the devastation of personal consumption that prolonged the Depression end of story

Question 15

structural change in the economy

Answer 15

……

Question 16

Hoover

Answer 16

proponent of laissez fair,
had abandoned laissez fair 
promoted associationalism: business itself should organize 
counter cyclical actions 
Reconstruction Finance Corporation

Question 17

The new Deal

Answer 17

Relief: Bank Holiday lifted, expanded reconstruction finance corp,
federal emergency relief administration,
homeowners’ Loan Corporation, Farm Credit Association