Review 1
Describe the term “Buying-On-Margin”.
Borrowing money from the bank with the promise of paying back the loan.
What did the unemployment rate rise to during the beginning of the Great Depression?
25%
How long did the stock market continue to fall after Tuesday, October 29th, 1929?
The stock market continued to fall for several years.
What did workers have less of due to losing their jobs from their failing companies?
They had less money to spend.
Provide a definition for the Great Depression.
A period of severe economic hardship that affected millions of people.
Name two things that the banking crisis made it impossible for people to do.
Borrow money or save for the future
What did the stock market crash signal the beginning of?
The Great Depression.
________________ and _______________ produced more than people could buy, resulting in businesses to have to lower prices.
Factories; farms
What was Tuesday, October 29, 1929, the day the stock market crashed, also known as in the United States?
Black Tuesday.
Who was president in 1929 when the Great Depression first started?
Herbert Hoover