America - Short And Long Term Consequences Of The Crash

Question 1

Rich large-scale investors

Answer 1

Short - who had risk most money in the belief that the price of shares would continue to rise - lost most. Immediate downturn in spending.

Question 2

Banks

Answer 2

Long - went bankrupt as borrowers could not repay loans and lost a huge amount of money in shares

Question 3

Unemployment

Answer 3

Business cut production, workers laid off or reduced wages, bought less, cut production even more.

Question 4

How many unemployed people were in 1933

Answer 4

14 million

Question 5

International trade on agriculture fell from ____ in 1929 to ____ in 1932

Answer 5

10 billion to 3 billion

Question 6

The dust bowl

Answer 6

Over farming and drought in the central southern states let to millions of acres of land drying out and turning to dust. Farmers left their land. Went to California for work.

Question 7

US exports fell from _____ - _______ between 1929 and 1932

Answer 7

US exports fell from 10.billion - 3 billion USD between ____ and _____