Consequences of Economic Fallout. Flashcards
How many people were unemployed in the US by the conclusion if 1929?
Roughly 2.5 million.
What percentage of the American workforce was unemployed by the end of 1929?
5 percent.
What was the greatest reason for long term economic fallout following the Wall Street Crash?
The loss of confidence in the economy, and therefore unwillingness to spend, even if the money was there.
What proportion of the sales of 1929 took place in 1932?
Barely half.
What was a hobo?
A man that travelled the country in search of work following the Wall Street Crash.
What is the general opinion of economists regarding long term depression in relation to The Wall Street Crash?
That the Wall Street Crash was only a reflection of deep problems with the economy created during the 1920s, and was not directly to blame.
What was the group most heavily impacted by the economic crash?
Farmers.
What was a popular slogan of those angry with the president following economic fallout?
“In Hoover we trusted, now we are busted.”
What was the term given for the camps created by hobos?
Hoovervilles.
