Flashcards in Effects of the Great Depression Deck (10)
Name at least 2 effects of the Great Depression in USA in 1929-33.
-Companies went bankrupt (industrial production declined)
- People lost millions (some committed suicide)
-Banks lost money and recalled loans - some banks closed down
-Unemployment increased dramatically/ people became -Homeless (homes repossessed or unable to pay rent)
- Farmers income dropped (farms repossessed)
- Soup kitchens and breadlines
How many companies went bankrupt between 1929-33?
What was unemployment by 1932?
By 1933, production of manufactured goods had dropped by what percentage compared with before the Depression?
More than 80%
Why did banks suffer so badly after the Wall street Crash?
Invested customer's money on the stock market. Banks recalled business loans
The weekly wage in manufacturing dropped from $28 in 1929 to what by 1932?
$22 (dropped even more by 1933)
Compared with 1929, how much had farmers incomes dropped by (%) by 1933?
What name was given to the severe dust storms that had been caused by drought and over farming of land in the early 1930s?
What were shanty towns built by the homeless on the edge of towns called?