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Flashcards in Ch. 22.1 Deck (19):
1

Who is now a well-known photographer, author, and filmmaker? He was a 16-year-old high school student in the fall of 1929.

Gordon Parks

2

What is the number of new dwellings being built?

Housing starts

3

What industry suffered the most during the Great Depression?

Agriculture

4

What bill did congress try to pass to help out farmers that called for federal price supports?

McNary-Haugen bill

5

What is it called when the government buys surplus crops at guaranteed prices and sells them on the world's market?

Price-supports

6

What is an arrangement in which consumers agreed to buy now and pay later for purchases?

Credit

7

Credit would sometimes be in the form of this, usually in monthly payments. It included interest charges.

Installment plan

8

What to candidates ran in the election of 1928?
Who won?

Republican - Herbert Hoover - president
Democrat - Alford E. Smith

9

Who is the current president in 1928?

Coolidge

10

What is a period of rising stock prices?

Bull market

11

What is buying stocks and bonds on the chance of a quick profit, while ignoring the risks?

Speculation

12

What is paying a small percent of the stocks price as a down payment and borrowing the rest?

Buying on margin

13

When did stock prices peak and then fall?

September 1929

14

What was it called when the bottom fell out of the market and the nation's confidence?
On what day did this happen?

Black Tuesday
October 29

15

What was the period from 1929 to 1940 in which the economy plummeted in unemployment skyrocketed called?

The Great Depression

16

By 1933 how many of the nations 25,000 banks have failed?

11,000

17

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

18

What percent of people were unemployed in 1933?

25% (13 million workers)

19

In 1930 Congress passed what act which established the highest protective tariff in United States history?

Hawley-Smoot Tariff Act