section 1 and 2 Flashcards
purchasing stocks on credit, or with borrowed money
buying on margin
the stock market crashed so many people wanted to sell their stocks, and so few wanted to buy, that stock collapsed
black tuesday
economy bounces back, consumers buy surplus goods, and companies increase production to meet the demand
business cycle
The economy did not recover quickly from the downturn that began in 1929 because of its severity and length
Great Depression
WW1 veterans, some with their families called……. they had come to the capital to demand early payment of a military
bonus army
franklin D Roosevelt????????
directed state government to provide relief for state’s citizens, especially farmers.
he also established the temporary Emergency relief Administration, which gave unemployment assistance to many out-of-work new yorkers
what encouraged many people to buy stocks
the chance to make profits from small investments
recession???
people lose jobs others feared of losing theirs soooo people buy less goods=businesses failing RECESSION
Depression?????
Deep and long-lasting recessions
presidents hoovers thoughts on Great Depression
didn’t believe it was the governments role to provide direct relief to Americans
according to hoover it wasn’t up to the fed gov’t but who was it up to…..
it was up to private individuals and institutions, not the gov’t to offer relief
hoover implemented…….
RFC reconstruction finance corporations
what did the RFC do??
loaned 1.2 billion to 5,000 different financial institutions, including banks and businesses
what did the RFC do??
loaned 1.2 billion to 5,000 different financial institutions, including banks and farm mortgage compaines
Hoovervilles???
groups of tin and cardboard shacks built by homeless families were nicknamed Hoovervilles
