Introduction (1)

Question 1

The other main economic system in the 20th century world was _______.

Answer 1

Capitalism

Question 2

Who was the world’s leading capitalist nation in the 1920’s?

Answer 2

USA

Question 3

What happened in 1929?

Answer 3

New York Stock Market Crash-Wall Street

Question 4

What was the Great Depression?

Answer 4

A period of major economic decline and widespread unemployment which lasted into the 1930’s.

Question 5

How did the USA recover from the Great Depression?

Answer 5

The New Deal introduced by Franklin Roosevelt

Question 6

What did the Great Depression lead to elsewhere?

Answer 6

More direct control by government elsewhere. In Germany and Japan introduced produced totalitarian dictatorships.

Question 7

How did these regimes affect Japan and Germany?

Answer 7

They restored economic stability and created jobs but destroyed democracy.

Question 8

One of the ways they stimulated the economy was by manufacturing _______ and increasing _______.

Answer 8

Weapons

Militarization

Question 9

How were things different in Russia compared to the rest of the world?

Answer 9

Russia escaped the uncertainties of the capitalist system by strong government control over the economy an$ its economy grew.