The Depression

Question 1

What were the economic effects of the depression?

Answer 1

100,000 companies bankrupt 
Share prices fell 80%
1932 12 million people unemployed 
Wages decreased from $28 to $22 per week
Farm income dropped 40%
Framers tried to grow more crops which lead to the dust ball (areas of farmland were no longer suitable to grow crops)

Question 2

What were the political effects of the depression?

Answer 2

People lost confidence in politicians

Herbert Hoover became very unpopular

Question 3

What were the social effects of the depression?

Answer 3

Black people suffered the most
1 million people travel the country illegally by railroads to find jobs - hobos
Children suffered with lack of food
Homeless forced into Hoovervilles

Question 4

What happened with the bonus army?

Answer 4

Ex army solider went to white house to ask for their pensions early
Hoover took the blame for having the army on them burning down shanty towns

Question 5

How did the depression affect company owners?

Answer 5

Businesses forced to close
Some survived by reducing workforce and production levels
Less advertising

Question 6

How did the depression affect the banks?

Answer 6

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