Flashcards in Ch. 22.1 Deck (19):
Who is now a well-known photographer, author, and filmmaker? He was a 16-year-old high school student in the fall of 1929.
What is the number of new dwellings being built?
What industry suffered the most during the Great Depression?
What bill did congress try to pass to help out farmers that called for federal price supports?
What is it called when the government buys surplus crops at guaranteed prices and sells them on the world's market?
What is an arrangement in which consumers agreed to buy now and pay later for purchases?
Credit would sometimes be in the form of this, usually in monthly payments. It included interest charges.
What to candidates ran in the election of 1928?
Republican - Herbert Hoover - president
Democrat - Alford E. Smith
Who is the current president in 1928?
What is a period of rising stock prices?
What is buying stocks and bonds on the chance of a quick profit, while ignoring the risks?
What is paying a small percent of the stocks price as a down payment and borrowing the rest?
Buying on margin
When did stock prices peak and then fall?
What was it called when the bottom fell out of the market and the nation's confidence?
On what day did this happen?
What was the period from 1929 to 1940 in which the economy plummeted in unemployment skyrocketed called?
The Great Depression
By 1933 how many of the nations 25,000 banks have failed?
Between 1929 and 1932 what was the gross national product reduced to and by how much?
It was nearly cut in half to 59 billion
What percent of people were unemployed in 1933?
25% (13 million workers)