Effects Of The Depression Flashcards
1
Q
What are the four main effects of the depression
A
•business
•unemployment
•farmers
Homeless
2
Q
What was the effects of businesses from the depression?
A
- 5000 banks out of business
- 100,000 businesses went bankrupt
- industry was producing 1/5 of what it had been before
3
Q
What was the effects of unemployment
A
- 12 million became unemployed
- factories wages dropped from $28 to $22
- well educated people started selling apples and shining shoes
4
Q
What was the effects on farmers
A
- farmers income fell by 60%
- a dust cloud was created in the Midwest
- 1 million people went travelling around and were known as hobos
5
Q
The effects that cause homelessness
A
- homes were taken by banks due to people paying on credit
- Hoovervilles were created
- people started going to breaklines
6
Q
Reactions to the depression
A
- bonus army
* America recalled its loans from Europe, from ww1, making the depression globally known
