Great Depression
What prompted the Great Depression?
Stock market crash in October 1929
What did governments do as a result of the value of exports being cut in half?
Governments sought to steer their economies away from exports and toward producing for the internal market, a policy known as import substitution
Who was the President during the Great Depression in the USA?
President Franklin Roosevelt.
What did Karl Marx predict?
Western capitalism was failing.
What happened to the Soviet Union as a result of the Great Depression?
The dispossession of the propertied classes and a state-controlled economy had generated an impressive economic growth with almost no unemployment in the 1930s, even as the capitalist world was reeling.
What was the President's new idea during this time period.
What area(s) did the Great Depression affect?
Euro-America.
What did governments do for capitalist societies?
The Great Depression also sharply challenged the governments of industrialized capitalist countries.
What is ONE of the aspects of the New Deal.
The New Deal involved immediate programs of public spending (for dams, highways, bridges, and parks); longer-term reforms, such as the Social Security system, the minimum wage, and various relief and welfare programs; support for labor unions; and subsidies for farmers.
How much percent did world trade drop?
62 percent.
What happened to Mexico as result of the Great Depression?
In Mexico, the Depression opened the way to reviving the principles of the Mexican Revolution under the leadership of Lázaro Cárdenas.
Did the New Deal help the country recover from the Great Depression?
Ultimately, the New Deal’s programs were unable to bring the Great Depression to an end.
Where did the Great Depression begin?
United States of America.
What is Britain's West Africa colony known as now?
Ghana.
What did the mounting number of government agencies mark?
A mounting number of government agencies marked a new degree of federal regulation and supervision of the economy.