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History > Great Depression > Flashcards

Great Depression Flashcards

1
Q

Why did stock market crash?

A

Speculation, overproduction and banks failed, etcz

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2
Q

What did john Maynard Keyes believe was cause of GD

A

Lack of government interference

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3
Q

Harley smoot tariff

A

Raised tariffs on imported goods;other countries raised tariffs on their goods

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4
Q

Buying on margin

A

Process of speculation; buying stock on credit cards

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5
Q

Why did African Americans and Mexican Americans struggle

A

Unemployment rate was at 50%

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6
Q

What group had early depression during 1920s

A

Farmers

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7
Q

What are something’s Hoover did to end depression

A

Volunteerism-no gov intervention

RFC-gov intervention

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8
Q

What were basic effects of Great Depression

A

Poverty, debt, no jobs, birthrates dropped

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9
Q

Where did dust bowl family’s go

A

West

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10
Q

Hoovers idea of volunteerism

A

Individuals volunteer to make their lives better

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11
Q

How did uneven distribution of wealth contribute to GDP

A

People spending beyond their needs

Rich became richer

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12
Q

How did Americans buying goods on credit hide economic problems

A

Used installment buying and credit cards

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13
Q

What caused banks to collapse at beginning of GD

A

Banks didn’t have money to pay back customers b/c stock market crashed

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14
Q

What happened on Oct 29,1929

A

Stock market officially crashed; Black Tuesday

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15
Q

What happened to unemployment rate at beginning of GD

A

Went up

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16
Q

How did farmers contribute to dust bowl

A

Farmers overfilled soil and that made dust

17
Q

Purpose or RFC

A

Gave more than $1 billion to businesses,RR, and banks to put money back into economy

18
Q

How are worker affected when companies cut production

A

They got laid off, Their income goes down

19
Q

Hoovervilles

A

Little towns set up for poor

20
Q

Hoover blankets

A

Newspaper

21
Q

Hoover flags

A

Pockets held out for money

22
Q

How did federal troops end bonus army protest in Washington

A

Hoover sent in army to surround protest but McArthur used bayonets and tear gas to get bonus army out

23
Q

Why was bonus army protesting

A

Bonus army was promised a bonus from gov for war and army wanted money early

24
Q

Cesar Chavez

A

Well known labor organizer; his family was treated unfairly

25
Q

How did Milton Friedman explain causes of GD

A

Thought it was caused by a lack of money circulation

26
Q

What is it when government encouraged Mexicans to return to Mexican

A

Repatriation

27
Q

Dust bowl migrates

A

Okies

28
Q

Trickle down economics

A

Theory that money inverted in banks and businesses will work its way through laborer system

29
Q

Speculation

A

Buying and hoping for a quick profit w/o thinking of risks

History (5 decks)

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