The Roaring 20's/Great Depression

Question 1

Roaring 20s

Answer 1

Economic prosperity, liberation and rebellion against traditional values. Country people thought values were under threat.

Question 2

Impact of the roaring 20s

Answer 2

Entertainment industry grew with film developed, cars helped cities grow and opened suburbs, more infrastructure built. New industries and methods of production. More mass advertising.

Question 3

What products did the roaring 20s bring

Answer 3

Most people owned a radio, jazz music became obsession, new dances, flapper (woman wore short dresses, makeup and smoked in public), telephones, fridges, cars.

Question 4

Republican policies of the 1920s

Answer 4

Introduced laissez-faire, tariffs, low taxation and trusts

Question 5

Republican policy, economic impacts

Answer 5

Aimed to increase economic growth and activity. There was still income inequality and farmers struggled to repay loans due to falling crop prices from high supply.

Question 6

Republican policy, impact on society

Answer 6

Low tax bought benefits to ordinary people and even more to the wealthy. Government to interfere as little as possible in people’s lives.

Question 7

Increases of car production

Answer 7

1919, 9 million then 1929, 26 million

Question 8

Increase of radio production

Answer 8

1920, 60,000 and then in 1929, 10 million

Question 9

Increase of telephones production

Answer 9

1915, 10 million and then 1930, 20 million

Question 10

Increase of fridge production

Answer 10

1921, for every one there were 167 in 1929

Question 11

Laissez-faire

Answer 11

Government should interfere as little as possible in lives of people to let businesses grow.

Question 12

Tariffs

Answer 12

Import tariffs made it expensive to import foreign goods. Protected businesses against foreign competition and allow them to grow more rapidly.

Question 13

Low taxation

Answer 13

Keep taxation as low as possible which bought benefits to ordinary working people but even more to the very wealthy.

Question 14

Causes of the Great depression, overproduction

Answer 14

Demand for consumer items fell leading to high supply and low demand.

Question 15

Causes of the Great depression, wealth distribution

Answer 15

Unequal distribution of wealth has 60% people living below the poverty line and didn’t experience benefit of the boom.

Question 16

Causes of the Great depression, corruption

Answer 16

Many illegally bought and sold shares, trading inside information.

Question 17

Causes of the Great depression, tariffs

Answer 17

As US tariffed international imports, Europe retaliated and did the same on US imports. Made it hard for US companies to expand and stay profitable.

Question 18

Causes of the Great depression, speculation

Answer 18

People gambled on stock exchange and borrowed money. Lost money when companies invested in collapsed, couldn’t pay loans costing bank.

Question 19

Causes of the Great depression, laissez-faire policies

Answer 19

Lack of regulation meant small banks opened and couldn’t stay profitable and suddenly closed. People lost their savings.

Question 20

Causes of the Great depression, panic

Answer 20

When banks began closing, people panicked and sold shared to not lose money. Caused prices to drop causing more people to sell shares.

Question 21

Impacts of the Great Depression on the rich

Answer 21

Large speculators ruined, rich lost the most as they had invested the most. Vanderbilt lost $40 m, Rockefeller lost 80% but had $40 m left.

Question 22

Impacts of the Great Depression on the banks

Answer 22

Many unable to pay back loans so bank and insurance companies went bankrupt. 1929, 659 banks failed, 1930, 1,352 went bankrupt.

Question 23

Impacts of the Great Depression on European banks

Answer 23

1931 had problems in European banks, knock-on effect in USA causing panic.

Question 24

Impacts of the Great Depression on people

Answer 24

Americans lost confidence and kept money instead of buying goods or shares. Many couldn’t afford consumer goods.

Question 25

Impacts of the Great Depression on businesses

Answer 25

Cut production and laid off more workers. Wages reduced and between 1928-1933 both industrial and farm production fell by 40% and wages by 60%.

Question 26

Impacts of the Great Depression on farm

Answer 26

Prices fell so low that cost of transporting animals was more than price of animals themselves.

Question 27

Impacts of the Great Depression on USA’s international trade

Answer 27

Trade fell from $10 billion in 1929 to $3 billion in 1932.

Question 28

What did the government do in regards to tax

Answer 28

President cut taxes to stimulate people to buy more goods. By mid 1931 production was rising again.

Question 29

What did the government do to save banks

Answer 29

Set up Reconstruction Finance Company to try stop banks going bankrupt.

Question 30

What did the government do with laws

Answer 30

In 1932 Hoover blocked a law that would’ve allowed Congress to provide $2.1 billion to create jobs.