What were the causes and impacts of the Depression?
Name one major cause of the Great depression.
The stock market crash
what day is known for the stock market crash?
October 29th, 1929
What type of discrimination happened?
racial and ethnic discrimination in hiring
How were Hoover's policies different from FDR?
FDR favored more direct government intervention
What change did industries make during the Great depression?
Laid off workers, many industries cut production and some shifted to wartime production
What impact did the Great depression have on families?
Many families faced unemployment and poverty
What was the Black Tuesday?
The day the stock market crashed dramatically.
How did the depression affect minorities jobs?
They faced higher unemployment rates and fewer job opportunities
What was Hoover's approach to the economy?
He believed in limited government intervention.
What was the biggest challenge in the industry?
Many companies faced bankruptcy due to low consumer spending
How did the stock market crash contribute to the Depression?
It crashed, leading massive financial losses.
How did banks failures happen?
Banks ran out of money as depositors withdrew funds.
What did labor unions do?
They fought for workers rights and better conditions
Name one of Hoover's initiatives
The Federal Home Loan Bank Act
How did demand change?
People only bought what they really needed
Describe one long-term effect of the Great depression on U.S. policies?
Increased government regulation of the economy
What is margin buying?
Borrowing money to buy stocks, leading to greater losses.
Name a law that helped with discrimination
The national Labor relations act (Wagner Act)
How did people view Hoover over time?
Many blamed him for the economic hardships
Why wasn't sustainability a focus?
Everyone was just trying to survive
How did the trade impact the depression?
Tariffs reduced international, trade worsening the economic situation.
What does speculation mean?
Investing in stocks with the hope of quick profit, often without careful analysis.
How did the new deal help?
It provided jobs and support for marginalized groups
What was the reconstruction finance corporation
A government agency that provided financial support to banks and businesses
Who were the main competitors?
Big companies were competing with small local ones.