The 1920s Boom
What term describes the period of economic growth in the 1920s?
Roaring Twenties
What year did the stock market crash that triggered the Great Depression?
1929
What economic problem occurs when factories produce more goods than people can buy?
Overproduction
What term describes people without jobs?
Unemployed
Who was Canada’s Prime Minister at the beginning of the Great Depression?
R.B. Bennett
What new buying method allowed people to purchase goods without paying the full price immediately?
Buying on credit
What was “Black Thursday”?
When stock prices began to collapse and the crash began
What problem occurs when people and businesses owe more money than they can repay?
Debt
What were the temporary settlements built by homeless people called?
Bennett Boroughs
What did Bennett promise in the 1930 election to fight the Depression?
Either answer: Social programs, high tariffs to protect Canadian industry
What major industry symbolized the economic boom and increased mobility of the 1920s?
Automobile industry (cars)
What was “Black Tuesday”?
When the stock market crashed completely
Why did farmers struggle even before the Depression?
Falling crop prices and overproduction (cost of wheat)
What natural disaster worsened conditions for Prairie farmers?
Dust bowl or drought
What was the name of the U.S. president during the Great Depression?
Franklin D. Roosevelt
What popular form of entertainment connected Canadians to American culture in the 1920s?
Radio
What is the name of the relationship between price and quantity?
Supply and demand
What effect did tariffs have on international trade during the Depression?
They worsened/reduced trade between countries
What were government camps for unemployed single men called?
Relief camps
What new set of reforms did Bennett introduce later in the Depression?
The “Bennett New Deal”
What risky practice involved buying stocks with borrowed money?
Buying on margin
How did the stock market crash affect banks?
What was one impact of the Great Depression on women?
Possible answers: forced to be breadwinners, domestic abuse, birth rate delice
What protest began in 1935 when relief camp workers travelled to Ottawa?
On-to-Ottawa Trek
Why did many of Bennett’s New Deal programs fail?
They were ruled out or came too late