Chapter 21 and 22: The Great Depression

Question 1

gross national product

Answer 1

total value of all goods and services

Question 2

buying on margin

Answer 2

buying stocks on a loan

Question 3

margin call

Answer 3

brokers ask for their loans in full

Question 4

Black Tuesday

Answer 4

Oct 29, 1929; stock market crashed

Question 5

Oct 24, 1929

Answer 5

stocks plunged scaring people but recovered

Question 6

bank run

Answer 6

string of nervous depositors withdrawing money

Question 7

foreclosure

Answer 7

lender takes ownership

Question 8

haboob

Answer 8

dust storm

Question 9

dust storm

Answer 9

mostly in Oklahoma, Texas, Kansas, Mexico, and Colorado

Question 10

Oakies

Answer 10

moved out of Oklahoma to to go California

Question 11

rugged individualism

Answer 11

unnecessary government threatened prosperity; not getting any handout from the government

Question 12

associative state

Answer 12

business should form voluntary associations

Question 13

Hoover Dam

Answer 13

example of associative state

Question 14

cooperative

Answer 14

organization owned and controlled by its members

Question 15

reconstruction finance cooperation

Answer 15

1932; direct government aid to banks and institutions RFC

Question 16

Smoot-Hawley Tarrif

Answer 16

disaster; tariffs on imports; backfired; foreign nations put high taxes on American goods

Question 17

bonus marchers

Answer 17

1932; WW1 vets promised bonus for fighting in the army; payable in 1945; Washington, DC; mini Hoovervilles; MacArthur starts fires to draw them out