New Culture of the 1920s
An example of change in the 1920s
- Women gaining more social & political rights
- new technologies
- Alcohol illegal
- Nightclubs & speakeasy culture
Instead of saving their money, many if not most Americans put their money into the _____ _____
The Stock Market
This candidate served as President during the beginning of the Great Depression.
Herbert Hoover
This is the amount of goods/services that consumers are willing and able to purchase
Demand
The year that the Stock Market Crashed
1929
The President from 1923-1929
Calvin Coolidge
This is the problem with there being an unequal distribution of wealth
The rich make up less of the population, and only put so much money into the economy compared to middle and lower class families.
This candidate was related to a past President.
+$200 If you can name the past president
F.D.R., related to Theodore Roosevelt
This is where buyers and sellers meet and the prices for products/goods are made
A Marketplace
2 specific examples of sacrifices a Family might have to make during the Great Depression
- Water down milk
- Send kids away
- Work multiple jobs
- Sell property
The name for the time when alcohol was illegal in the U.S.
Prohibition
This is a “Bank-run”
The candidate who won the 1932 Presidential Election and the reason why he had won
FDR, because many Americans blamed Hoover for the worsening effects of the Great Depression
_______ is when there are too many goods are available
_______ is when there are not enough goods available to meet the demand
Surplus & Shortage
The title/occupation name of someone who buys/sells stocks on behalf of clients.
Stock Broker
Why the U.S. enjoyed economic prosperity with trade in the early 1920s
Large sections of Europe was destroyed from WWI, and the U.S. supplied the goods and loans needed to rebuild
The reason that many farmers in the 1920s went bankrupt.
This candidate grew up poor and worked extremely hard to become wealthy, eventually going to a prestigious college
Herbert Hoover
The Law of Demand
Price ↑ = Demand ↓
Price ↓ = Demand ↑
This is a tax placed on an imported good, typically used to reduce the demand for foreign goods
Tariff
When a person buys a good/service by paying only a portion of the purchase price and then agreeing to pay the remainder of the purchase price later
Installment Buying
This is the reason that there was a decrease in foreign demand of goods before the Great Depression
Hoover (as Secretary of Commerce) placed too tariffs on foreign goods to promote the sale of American goods
Which candidate was a Republican and which was a Democrat?
Hoover = Republican
FDR = Democrat
When the quantity demanded is equal to the quantity supplied
Equilibrium Price
The type of economic policy in which businesses are completely independent without government intervention.
Laissez-Faire