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Great Depression Flashcards

1
Q

What was the time period between 1929 and 1941 in America

A

The great depression

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2
Q

Identify the major causes of the great depression

A 
Drop in farm prices
Massively uneven distribution of income
Buying on credit
Overproduction of goods
Stock market crash of 1929
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3
Q

What was the cause “drop in farm prices”

A

Lower prices mesnt lower income for farmers so the farmers had to borrow money from the bank to pay for land and equipment

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4
Q

what was the cause “massively uneven distribution of income”

A

The rich got richer and the poor got poorer and usually only business owners benefited from the growth and the business. over 70% of the US families had too low of an income for a good standard living

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5
Q

 what was the cause “buying on credit”

A

Allowed Americans to buy expensive goods, but when people reach their credit limit purchases slowed. W
arehouses became filled with goods no one could afford to buy anymore and people who bought stocks on credit couldn’t repay the debt to the bank

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6
Q

What was the cause “overproduction of goods”

A

farms and factories overproduced beyond the demand and had extras.
when businesses cut production jobs were also cut and workers suffered.
people had little to no money to spend

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7
Q

what was the cause “stock market crash of 1929”

A

Stock prices had plunged and people wanted to sell their stocks before the companies tanked.
People don’t want to buy stocks of a company that they think is crashing so people who bought stocks on margin couldn’t afford to repay those loans.

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8
Q

Explain with the stock market is and how it works

A

The stock market lets buyers and sellers negotiate prices and make trades
Companies list shares of their stocks and investors purchase those shares which allows the company to raise money to grow its business.

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9
Q

What are stocks

A

stocks are shares or parts of a company that you invest in

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10
Q

Who won the election of 1928 and why

A

Herbert Hoover won because when Coolidge didn’t run for reelection he automatically got votes from Republicans. Hoover‘s opponent Smith was the first Catholic to run for president and face prejudice because of his religion

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11
Q

How did the rising prices of products reflect the uneven distribution of wealth in the 1920s

A

For most Americans rising prices swallowed up an increase in salary and by 1929 over 70% of US families had too low of an income for good standard living

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12
Q

Why did purchase a slow down toward the end of the 1920s

A

A lot of Americans reach their credit limit

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13
Q

Explain the concept of buying on credit

A

When you buy of credit you’re taking a loan from the bank and your credit has limit and if you don’t pay that limit back on time your credit score will go down credit score basically means your reputation..
FAKE MONEY

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14
Q

How did credit impact the economy of America during the late 1920s

A

Everyone was buying off of credit and using fake money that they didn’t have so in banks asked for people to pay back their loans the bank couldn’t get their money back and a lot of Americans lost their savings that they had deposited to the bank

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15
Q

Farms in factory started producing more products and society demanded explain the impact it had on society

A

Since they overproduce beyond the command businesses cut production and jobs were cut
When jobs were cut workers suffered and had a little or no money to spend it when people have no money the demand for goods fell

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16
Q

What does it mean to buy on margin

A

Buying on margin meant that you bought stocks with loans from stockbrokers in what you’d pay brokers back when you sold the stock

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17
Q

Why was buying on margin a problem

A

Buying on margin was risky because fallen stocks left investors and debt with no

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18
Q

What was a margin call

A

A margin calls when stocks fell and broke her she could ask for their loans back

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19
Q

Why were margin calls a challenge for Americans

A

Margin calls cause lots of Americans to go in debt and some couldn’t even pay back their loans

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20
Q

What is the federal reserve

A

The nations central bank

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21
Q

what was black Tuesday

A

on October 29 it was the worst day of the stock market crash and affected the stocks of even solid companies

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22
Q

Why did Black Tuesday happen and what impact did it have

A

More than 16 million shares were traded in one day and was beginning of the great depression

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23
Q

Why did the stock market crash cars banks to fail

A

when the market crashed people with bank accounts rush to withdraw their money and which drain the bank of funds

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24
Q

Explain how the banking crisis impacted American society

A

When hundreds of banks failed including the enormous bank of the United States it wiped out billions of savings

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25
What were bank runs
A string of nervous depositors withdrawing money
26
Why did bank runs happen and what impact did they have
People were scared they would lose their money from the bank failing and runs could quickly drain a bank of all its cash in which can cause the banks closure
27
Why and how we’re businesses impacted by the stock market crash
lots of Americans lost their money from the crash and this meant that they couldn’t afford to spend money on businesses With no income from people spending money businesses were collapsing and caused a domino effect on other businesses
28
What did the unemployment rate raised to during the great depression and why
unemployment rate reach 25% and the neighborhoods like Harlem it richest staggering 50% in 1932 Unemployment rate skyrocketed because businesses were being shut down and banks were collapsing
29
How are farms impacted by the great depression
when widespread joblessness and poverty cut down on the demand for food farmers were unable to sell the food they produced and farm prices had sunk to 30% of their already low 1929 levels
30
What is a foreclosure
when a lender takes over ownership of the property from an owner who has failed to make a loan payments
31
What was shanty towns and why are they sometimes called hoovervilles
areas were people who lost their homes lived | Named after President Hoover who many blamed for the great depression
32
What were some of the challenges of Hooverville’s
they were very unsanitary and created health risks for not only the people living in the town but also the area around it everyone living there was very poor and had terrible living conditions 
33
What were hobos and why were the prevailant during the great depression
hobos were mostly men but also consisted of teens and women that took jobs wherever they could and never spent too long in one place there would be a bunch of hobos that would illegally aboard trains and guards eventually had to chase them off
34
what was the emotional impact of the great depression
many who are unemployed often felt they failed this people and there was a high suicide rate during the time of the great depression
35
What was the dust bowl and what ultimately caused it to happen
when wind storms came and stripped the rich topsoil and blew it hundreds of miles it was caused by Plowing of farmers in which destroy the grass is that once held down the soil in farmers didn’t rotate their crops
36
What sort of impact did the dust bowl have
farmers could barely make a living causing money to leave their homes for California and by the end of 1935 185,000,000 acres of topsoil were gone
37
What was Hoover’s response to the great depression
He thought it was important not to destroy peoples belief and their own responsibility and power Provided $2 billion in direct government aid to banks and institutions
38
What was the reconstruction finance corporation
A program that provided $2 billion in direct government aid to banks and institutions
39
What was the Smoot-Hawley tariff
text is not imported goods that raise the cost making it more likely that American purchased by American goods
40
What were the bonus marchers and how did Hoover respond to them
World War I veterans that set up camp near the capital to pressure of the federal government to buy a veterans bonus which was a casual award they were promised for their water service in Hoover did not want to pay their bonus because he was concerned about balancing the budget
41
Who won the election of 1932 and why
Franklin D Roosevelt won because he promoted relief for the poor and more public works programs to provide jobs People hated Hoover because he sucked at solving the depression
42
What were fire side chats
when the FDR gave 30 radio speeches to the nation
43
What was the hundred days
when fighting depression was the number one priority and 15 new laws are passed to fight depression
44
What was the brain trust
when the FDR gathered information from many economic experts and hired economic advisors
45
What was the emergency banking relief act
allowed banks to open if they had enough funds to pay their depositors
46
what was the new deal
when FGR developed many new bills that created programs to help and the great depression
47
What were the new deals goals
RELIEF for the unemployed plans for economic RECOVERY and REFORMS that prevent another depression
48
What was the impact of the new deal on American society
provided support for farmers unployed youth in the elderly and basically ended the depression by finding work for millions of people and finding bake systems However people didn’t like the government gaining so much power
49
What did the work progress administration do
Built hospitals school parks playgrounds and hi artist to photograph the depression
50
What did the Wagner act do
Protected workers from unfair management practices and guaranteed rights to collective-bargaining
51
What did the civilian conservation corpse do
Help unemployed young men 18 to 25 years old and paid one dollar per day and build bridges flow control projects and new parks
52
why were projects like the Empire State building in Goldgate Bridge so important during the depression
The buildings weren’t completed until during the depression so it gave the jobs to the unemployed
53
What was the national recovery administration
Companyanies who followed the rules for production wages and prices and working conditions got a blue eagle stamp on a business
54
What was the Tennessee valley authority
helped people build dams and other projects along the Tennessee river and its tributaries
55
What was the agricultural adjustment act
paid farmers not to grow certain crops and people were outraged that food not used to feed the poor
56
What was securities and exchange commission
regulates the stock market and other financial institutions
57
What was the federal deposit insurance corporation
Insured bank account up to 250,000 and if the bank field government would cover your losses up to dollar amount
58
What was the federal securities act
Helped investors restored confidence in the markets
59
What was Social Security and what impact did it have on American society
it was designed as a pension plan for elderly Americans and helped others retire
60
Identify and explain agencies that were created during the great depression to have to use
The FERA Ensured that schools wouldn’t close and it set up a school lunch program The national recovery acts and fair labor standards act band dangerous child labor The CCC hired young men for conservation projects These agencies provide safety and support for the youth going through hard times during the depression
61
What are the pros of the new deal
``` end of the depression found work for millions of people protected farms fixed banking systems Government helped citizens not just businesses ```
62
What were the cons of the new deal
Government growing too big increasing power of government Government in deficient spending growing national debt
63
Who won the election of 1936
Franklin D Roosevelt
64
What was the court packing plan
gave the president power to appoint many new judges and expand the Supreme Court up to six judges The plan did not pass by the Supreme Court made some rulings that favored new deal legislation
65
how did the great depression impact women
Francis Perkins was the first woman to head an executive office and woman served as leaders in several new year agencies but still face challenges in discrimination
66
How did the great depression impact African-Americans
Roosevelt administration appointed many African-Americans and Mary McLead Bethune was the leader of the Black cabinet and which was a group of African-Americans that were hired to fill government posts The black cabinet was also served as unofficial advisors to the president
67
What were popular entertainment methods of the great depression
People listen to the radio and which helped people escape their hard lives with politics religion music sports and other forms of entertainment people were interested in sports in the 1930s and Babe Ruth was a popular baseball player and Joe Louis was popular in boxing
68
How is the story the three little pigs related to the great depression
The wolf was like the depression and the three little pigs represented average shit of sense who eventually succeeded by working together
69
Identify the importance of movies during the great depression and give two examples
most films were upbeat and allowed viewers to escape the depression in millions of Americans went to the movies each week Snow White and Wizard of Oz
70
What was the impact of the new deal
relief programs put billions of dollars into the pocket of poor Americans and unemployment still remain high but F I C restored public confidence in the nations bank left thousands of roadways bridges dams public buildings and works of art
71
What were the limits of the new deal
relief programs weren’t meant to be permanent solutions and didn’t provide jobs to everyone who needed one The level of government assistance varied by state meaning some states got way more than other states New deal programs permitted discrimination against African-Americans Hispanic Americans woman and others
72
What signified the end of the new deal
passing the new deal legislation was difficult and only one piece was passed in 1938 which was the fair labor standards act The Republicans made gains in both houses and Roosevelt like to congressional support he needed to pass new deal laws

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