Final Exam - Unit 11 Flashcards
What happened on black Thursday?
The stock market collapsed
What is Laissez Faire Economics?
It opposes the interference of government in business and the economic - - let the people do what they choose.
What describes the dull phase in the economy after World War I?
The economy was still transitioning from a war time economy to a peace time exonomy
What describes the difference between the farm life in the 1920’s?
The People turned towards their faith through revivals and Christian Living
What describes the Teapot dome Scandal?
Secretary of the Interior was being bribed for control of oil reserves
What lifestyle adjustments were made during the Great Depression?
Grow their own gardens
Sew their own clothes
Cut out all Luxuries
What is Hooverville?
Shack communities typically built near railroads during the Great Depression and named after President Hoover
What is Margin Buying?
when an investor borrows a majority of the money from a lender in hopes to make a quick profit and repay back the money borrowed
What is stock pooling?
when multiple investors pool money together to invest in low stock to drive down the price then sells
What is the Dust Bowl?
the area in which huge dust storms were created due to arid conditions
What was a common form of entertainment during the 1920’s?
Deluxe Movie Houses
What made it possible for more Americans through the 20’s to make large purchases such as cars, fridges, washing machines, etc?
The ability to gain Credit
why were authors like Fitzgerald and Hemmingway considered to be part of the the Lost Generation?
Their writing had been influenced by war and gave their work a cynical outlook
What explains why there is a farm crisis after World War I?
The demand for food worldwide drips causing crop prices to drop
How was the dust bowl created?
Overgrazing
Lack of plant life to hold soil together
Continuous drought
