Causes of the Great Depression
Life During the Depression
Herbert Hoover's Response
Geography
Stock Market
100
The practice of purchasing goods or services using ________, or "buy now, pay later", drastically increased in 20's which lead to overspending.
Credit
100
Blaming the president for their plight, newly homeless people established shantytowns they called
Hoovervilles
100
These were government-funded projects such as highways, parks, and libraries designed to create jobs for the people.
Public works programs
100
Where is Wall Street located?
New York City, financial district of lower manhattan
100
This is the "middle man" for stock exchanges. A person who buys and sells stocks for investors.
Broker
200
This is the act of buying stocks at great risk with the anticipation that the prices will rise.
Speculation, or overspeculation
200
In 1932, the press began calling the World War I veterans who were marching to Washington, D.C., to demand early payment of promised bonuses the what?
Bonus Army
200
Hoover initially believed that ________ would keep the economy moving. An ideology that the government should not step in to help individuals and that individuals will help themselves.
Rugged Individualism
200
What region was hit hardest by the Dust Bowl?
Great Plains region
200
What percentage of American households owned stocks by 1929?
10%
300
This caused deflation, as companies made more goods than could be sold
Overproduction
300
What percentage of the U.S. workforce was unemployed by 1933?
25%
300
This tariff raised taxes on imports leading to foreign countries responding with their own tariffs which caused fewer American products to be sold overseas.
Hawley-Smoot tariff of 1930
300
Many dust bowl farmers and families, nearly penniless, headed west, hoping for a better life in this state.
California
300
This is a sustained economic period when prices for goods and products drastically decrease?
Deflation
400
This central bank of the US government kept interest rates on loans low, enabling businesses to overexpand and banks to make risky loans. During the depression this central bank of the US government also contracted the money supply by refusing to put more money into the bank systems.
The Federal Reserve
400
When families couldn't pay rent or their mortgages, they would be evicted by a ________, an officer of the court.
Bailiff
400
Hoover established this to make loans to businesses. This lent about $238 million to banks, railroads, and building-and-loan associations. Overly cautious, this failed to increase its lending sufficiently.The economy continued to decline.
Reconstruction Finance Corporation (RFC)
400
In this state, farmers burned their corn to heat their homes.
Nebraska
400
A long period of rising stock prices is known as what?
Bull Market
500
Buying stocks with mostly borrowed money (loans) is also known as what?
Buying on the margin
500
Who took this picture, "The migrant mother"
Dorothea Lange
500
Hoover reluctantly sign this act. This act called for $1.5 billion for public works and $300 million in emergency loans to the states for direct relief. For the first time in American history, the federal government was supplying direct relief funds.
Emergency Relief and Construction Act
500
Dairy farmers from this state blocked highways and stopped milk trucks, dumping the milk into ditches
Georgia
500
This index measures the stock market's daily price movement of 30 major companies, gauging the state of the US economy.
Dow Jones Industrial average