Wall Street Crash
What is meant by buying on the margin?
What transition did America have in terms of cycles?
Who were the first ones to get affected by the depression in the countryside?
Black Farmers
What was the name given to Hoover after he entered the 1932 elections?
The "do nothing" president
What is speculation?
Form of Gambling. Purchase of something with the hope that it will become more valuable in a future.
What kind of machines broke and why during Black Tuesday?
Ticker Table broke due to pressure as the stock prices changed every second.
What massive sandstorm caused starvation, killed animals and crops and made farmers flee their land?
Dust Bowl
What propaganda against Hoover became famous during the elections and what did it suggest?
The Smilette which suggested to smile away from depression into prosperity
What is the cycle of prosperity?
chain where more jobs lead to more money, which leads to better living conditions, to more jobs. Virtouos cycle of positive outcomes
Why were people so desperate to sell their shares?
Prices fell drastically and there were no buyers found
Why and Where did homeless people accomodate in the city during the deppression?
Lived in Hoovervilles and Shanty Towns are they could no longer pay for their houses so they got kicked out.
What actions did FDR take to promote his Democratic campain?
Who were the most profitted by the crash instead of companies?
Organised crime, gangsters and the black market
How many shares were sold during black tuesday?
A: $22million
B: $9million
C: $16 million
C: 16 million shares were sold
Why did people loose confidence on banks and why did they collapse.
People lost confidence on banks as they invested peoples money on shares and lent money They collapsed as people started withdrawing their saving. Domino effect on banks
What actions did Hoover have against the pacific Bonus marchers?
Used the armys force to disperse them with violence, burnt their camps and used tear gas
Share prices in companies started to go down. What does the acronym TOFU stand form?
Tarrifs
Overproduction
Financial Speculation
Unequal distribution of wealth
How much did shareholders loose during Black Tuesday?
A: $13 million
B: $2 million
C: $8 million
C: $8 million
What was the name of the gangster that during the depression was obliged to donate money to charity and open soup kitchens?
Al Capone
What was the Garner-Wagner Relief Bill and what did Hoover do against it?
Hoover blocked the Relief Bill which gave $2.1 billion to create jobs as he thought people would rely to much on it. Laissez Faire ideology