the Great Depression: the rich and middle class Flashcards
1
Q
Doctors, lawyers and dentists saw their wage drop
A
by 40%
2
Q
The middle class were vulnerable because
A
They had bought ‘mod cons’ on hire purchase and were now in debt. This includes people who bought on the margin
People who gambled their money on the stock market or saved in a bank also lost their money
3
Q
…….banks collapsed
A
1,600
4
Q
……..savings accounts were wiped out
A
9 million
5
Q
The middle class and wealthy did however
A
have things to sell
6
Q
The birth rate
A
was the lowest it had ever been
