unit 2 1930s Flashcards
reasons of the depressions
stock market crash
overproduction
canada’s reliance on exporting staple products
dependence on the USA
economic protection and tariffs
international debt after WWI
recession
decline in the economy
lower levels of employment
low levels of production
depressions
severe economy decline
high unemployment
long period of time
recovery
when an economy recovers from a recession
prosparity
AN ECONOMIC STATE OF GROWTH
high profits
full employment
deficit
government spends more than it makes
aka debt
inflation
prices increase
supply and demand
supply is the amount of goods
demand is the desire of the goods
high supply when demand is high
laissez faire
belief that the government should not intervene in economic affairs
riding the rails
travelling the country hopping on and off trains in search of work
causing hobo jungles
dust bowl
praries were hit hard during the depression
high climate = drought = dust
grasshoppers thrived
prairie farm rehabilitation administration act
helped farmers build irrigation systems and reservoirs to avoid future dust bowls
pogey/dole
food stamps
similar to welfare
PM king said depressions was ….
a provincial/municipal problem
due to PM king’s response RB bennett
a conservative millionaire lawyer won