Card Set Information
During the 1920s, the US economy moved through which phase of the business cycle?
In 1929, the stock market crashed because why?
Investors lost confidence in the market and rushed to sell their shores.
Which factor contributed to the spread of the Great Depression overseas?
The US curtailed investment in Europe.
What does the photograph show?
The Dust Bowl.
People likely abandoned this place because?
The land could not be farmed.
Which of these factors helped hide economic problems in the 1920s?
Americans purchased many consumer goods on credit.
What event occured on Black Tuesday?
Investers sold more than 16 million shares of stock.
European countries reacted to the Hawley-Smoot Tariff by?
Passing high protective tariffs.
What economic condition did economist John Maynard Keynes believe cause the Great Depression?
Lack of government intervention.
Which of these factors contributed to the plight of rural farmers?
Falling prices for crops and livestock.
Farmers contributed to the problems that led to the Dust Bowl by?
Using intensive farming practices that removed protective grasses.
President Hoover responded cautiously to the Great Depression because he?
Thought that the business cycle would correct itself.
The policy of volunteerism called for which of the following?
Public Works Programs.
Some Americans blamed the Great Depression on?
Why did many Americans decide that the country needed new leadership in 1932?
President Hoovers volunteerism and trickle-down economic policies had failed.
How did the uneven distribution of the nations wealth lead to the depression?
Farmers had huge surpluss of crops but demand for them decreased drastically so they went into debt.
Why were banks one of the first institutions to feel the effects of the stock market crash?
People began to lose confidence in the economy, and frightened depositors began to remove their money from banks.
Both African Americans and Mexican Americans had an especially difficult time during the Great Depression because they?
Faced discrimination when competing with white Americans for a limited number of jobs.
Why did volunteerism fail?
Businesses and citizens acted in their individual best interests