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US History > Great Depression > Flashcards

Great Depression Flashcards

1
Q

What was the time period between 1929 and 1941 in America

A

The great depression

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2
Q

Identify the major causes of the great depression

A 
Drop in farm prices
Massively uneven distribution of income
Buying on credit
Overproduction of goods
Stock market crash of 1929
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3
Q

What was the cause “drop in farm prices”

A

Lower prices mesnt lower income for farmers so the farmers had to borrow money from the bank to pay for land and equipment

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4
Q

what was the cause “massively uneven distribution of income”

A

The rich got richer and the poor got poorer and usually only business owners benefited from the growth and the business. over 70% of the US families had too low of an income for a good standard living

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5
Q

 what was the cause “buying on credit”

A

Allowed Americans to buy expensive goods, but when people reach their credit limit purchases slowed. W
arehouses became filled with goods no one could afford to buy anymore and people who bought stocks on credit couldn’t repay the debt to the bank

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6
Q

What was the cause “overproduction of goods”

A

farms and factories overproduced beyond the demand and had extras.
when businesses cut production jobs were also cut and workers suffered.
people had little to no money to spend

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7
Q

what was the cause “stock market crash of 1929”

A

Stock prices had plunged and people wanted to sell their stocks before the companies tanked.
People don’t want to buy stocks of a company that they think is crashing so people who bought stocks on margin couldn’t afford to repay those loans.

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8
Q

Explain with the stock market is and how it works

A

The stock market lets buyers and sellers negotiate prices and make trades
Companies list shares of their stocks and investors purchase those shares which allows the company to raise money to grow its business.

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9
Q

What are stocks

A

stocks are shares or parts of a company that you invest in

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10
Q

Who won the election of 1928 and why

A

Herbert Hoover won because when Coolidge didn’t run for reelection he automatically got votes from Republicans. Hoover‘s opponent Smith was the first Catholic to run for president and face prejudice because of his religion

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11
Q

How did the rising prices of products reflect the uneven distribution of wealth in the 1920s

A

For most Americans rising prices swallowed up an increase in salary and by 1929 over 70% of US families had too low of an income for good standard living

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12
Q

Why did purchase a slow down toward the end of the 1920s

A

A lot of Americans reach their credit limit

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13
Q

Explain the concept of buying on credit

A

When you buy of credit you’re taking a loan from the bank and your credit has limit and if you don’t pay that limit back on time your credit score will go down credit score basically means your reputation..
FAKE MONEY

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14
Q

How did credit impact the economy of America during the late 1920s

A

Everyone was buying off of credit and using fake money that they didn’t have so in banks asked for people to pay back their loans the bank couldn’t get their money back and a lot of Americans lost their savings that they had deposited to the bank

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15
Q

Farms in factory started producing more products and society demanded explain the impact it had on society

A

Since they overproduce beyond the command businesses cut production and jobs were cut
When jobs were cut workers suffered and had a little or no money to spend it when people have no money the demand for goods fell

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16
Q

What does it mean to buy on margin

A

Buying on margin meant that you bought stocks with loans from stockbrokers in what you’d pay brokers back when you sold the stock

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17
Q

Why was buying on margin a problem

A

Buying on margin was risky because fallen stocks left investors and debt with no

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18
Q

What was a margin call

A

A margin calls when stocks fell and broke her she could ask for their loans back

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19
Q

Why were margin calls a challenge for Americans

A

Margin calls cause lots of Americans to go in debt and some couldn’t even pay back their loans

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20
Q

What is the federal reserve

A

The nations central bank

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21
Q

what was black Tuesday

A

on October 29 it was the worst day of the stock market crash and affected the stocks of even solid companies

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22
Q

Why did Black Tuesday happen and what impact did it have

A

More than 16 million shares were traded in one day and was beginning of the great depression

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23
Q

Why did the stock market crash cars banks to fail

A

when the market crashed people with bank accounts rush to withdraw their money and which drain the bank of funds

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24
Q

Explain how the banking crisis impacted American society

A

When hundreds of banks failed including the enormous bank of the United States it wiped out billions of savings

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25
Q

What were bank runs

A

A string of nervous depositors withdrawing money

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26
Q

Why did bank runs happen and what impact did they have

A

People were scared they would lose their money from the bank failing and runs could quickly drain a bank of all its cash in which can cause the banks closure

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27
Q

Why and how we’re businesses impacted by the stock market crash

A

lots of Americans lost their money from the crash and this meant that they couldn’t afford to spend money on businesses
With no income from people spending money businesses were collapsing and caused a domino effect on other businesses

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28
Q

What did the unemployment rate raised to during the great depression and why

A

unemployment rate reach 25% and the neighborhoods like Harlem it richest staggering 50% in 1932
Unemployment rate skyrocketed because businesses were being shut down and banks were collapsing

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29
Q

How are farms impacted by the great depression

A

when widespread joblessness and poverty cut down on the demand for food farmers were unable to sell the food they produced and farm prices had sunk to 30% of their already low 1929 levels

30
Q

What is a foreclosure

A

when a lender takes over ownership of the property from an owner who has failed to make a loan payments

31
Q

What was shanty towns and why are they sometimes called hoovervilles

A

areas were people who lost their homes lived

Named after President Hoover who many blamed for the great depression

32
Q

What were some of the challenges of Hooverville’s

A

they were very unsanitary and created health risks for not only the people living in the town but also the area around it
everyone living there was very poor and had terrible living conditions 

33
Q

What were hobos and why were the prevailant during the great depression

A

hobos were mostly men but also consisted of teens and women that took jobs wherever they could and never spent too long in one place
there would be a bunch of hobos that would illegally aboard trains and guards eventually had to chase them off

34
Q

what was the emotional impact of the great depression

A

many who are unemployed often felt they failed this people and there was a high suicide rate during the time of the great depression

35
Q

What was the dust bowl and what ultimately caused it to happen

A

when wind storms came and stripped the rich topsoil and blew it hundreds of miles
it was caused by Plowing of farmers in which destroy the grass is that once held down the soil in farmers didn’t rotate their crops

36
Q

What sort of impact did the dust bowl have

A

farmers could barely make a living causing money to leave their homes for California and by the end of 1935 185,000,000 acres of topsoil were gone

37
Q

What was Hoover’s response to the great depression

A

He thought it was important not to destroy peoples belief and their own responsibility and power
Provided $2 billion in direct government aid to banks and institutions

38
Q

What was the reconstruction finance corporation

A

A program that provided $2 billion in direct government aid to banks and institutions

39
Q

What was the Smoot-Hawley tariff

A

text is not imported goods that raise the cost making it more likely that American purchased by American goods

40
Q

What were the bonus marchers and how did Hoover respond to them

A

World War I veterans that set up camp near the capital to pressure of the federal government to buy a veterans bonus which was a casual award they were promised for their water service in Hoover did not want to pay their bonus because he was concerned about balancing the budget

41
Q

Who won the election of 1932 and why

A

Franklin D Roosevelt won because he promoted relief for the poor and more public works programs to provide jobs
People hated Hoover because he sucked at solving the depression

42
Q

What were fire side chats

A

when the FDR gave 30 radio speeches to the nation

43
Q

What was the hundred days

A

when fighting depression was the number one priority and 15 new laws are passed to fight depression

44
Q

What was the brain trust

A

when the FDR gathered information from many economic experts and hired economic advisors

45
Q

What was the emergency banking relief act

A

allowed banks to open if they had enough funds to pay their depositors

46
Q

what was the new deal

A

when FGR developed many new bills that created programs to help and the great depression

47
Q

What were the new deals goals

A

RELIEF for the unemployed plans for economic RECOVERY and REFORMS that prevent another depression

48
Q

What was the impact of the new deal on American society

A

provided support for farmers unployed youth in the elderly and basically ended the depression by finding work for millions of people and finding bake systems
However people didn’t like the government gaining so much power

49
Q

What did the work progress administration do

A

Built hospitals school parks playgrounds and hi artist to photograph the depression

50
Q

What did the Wagner act do

A

Protected workers from unfair management practices and guaranteed rights to collective-bargaining

51
Q

What did the civilian conservation corpse do

A

Help unemployed young men 18 to 25 years old and paid one dollar per day and build bridges flow control projects and new parks

52
Q

why were projects like the Empire State building in Goldgate Bridge so important during the depression

A

The buildings weren’t completed until during the depression so it gave the jobs to the unemployed

53
Q

What was the national recovery administration

A

Companyanies who followed the rules for production wages and prices and working conditions got a blue eagle stamp on a business

54
Q

What was the Tennessee valley authority

A

helped people build dams and other projects along the Tennessee river and its tributaries

55
Q

What was the agricultural adjustment act

A

paid farmers not to grow certain crops and people were outraged that food not used to feed the poor

56
Q

What was securities and exchange commission

A

regulates the stock market and other financial institutions

57
Q

What was the federal deposit insurance corporation

A

Insured bank account up to 250,000 and if the bank field government would cover your losses up to dollar amount

58
Q

What was the federal securities act

A

Helped investors restored confidence in the markets

59
Q

What was Social Security and what impact did it have on American society

A

it was designed as a pension plan for elderly Americans and helped others retire

60
Q

Identify and explain agencies that were created during the great depression to have to use

A

The FERA Ensured that schools wouldn’t close and it set up a school lunch program
The national recovery acts and fair labor standards act band dangerous child labor
The CCC hired young men for conservation projects
These agencies provide safety and support for the youth going through hard times during the depression

61
Q

What are the pros of the new deal

A 
end of the depression
found work for millions of people
protected farms
fixed banking systems
Government helped citizens not just businesses
62
Q

What were the cons of the new deal

A

Government growing too big
increasing power of government
Government in deficient spending
growing national debt

63
Q

Who won the election of 1936

A

Franklin D Roosevelt

64
Q

What was the court packing plan

A

gave the president power to appoint many new judges and expand the Supreme Court up to six judges
The plan did not pass by the Supreme Court made some rulings that favored new deal legislation

65
Q

how did the great depression impact women

A

Francis Perkins was the first woman to head an executive office and woman served as leaders in several new year agencies but still face challenges in discrimination

66
Q

How did the great depression impact African-Americans

A

Roosevelt administration appointed many African-Americans and Mary McLead Bethune was the leader of the Black cabinet and which was a group of African-Americans that were hired to fill government posts
The black cabinet was also served as unofficial advisors to the president

67
Q

What were popular entertainment methods of the great depression

A

People listen to the radio and which helped people escape their hard lives with politics religion music sports and other forms of entertainment
people were interested in sports in the 1930s and Babe Ruth was a popular baseball player and Joe Louis was popular in boxing

68
Q

How is the story the three little pigs related to the great depression

A

The wolf was like the depression and the three little pigs represented average shit of sense who eventually succeeded by working together

69
Q

Identify the importance of movies during the great depression and give two examples

A

most films were upbeat and allowed viewers to escape the depression in millions of Americans went to the movies each week
Snow White and Wizard of Oz

70
Q

What was the impact of the new deal

A

relief programs put billions of dollars into the pocket of poor Americans and unemployment still remain high but F I C restored public confidence in the nations bank
left thousands of roadways bridges dams public buildings and works of art

71
Q

What were the limits of the new deal

A

relief programs weren’t meant to be permanent solutions and didn’t provide jobs to everyone who needed one
The level of government assistance varied by state meaning some states got way more than other states
New deal programs permitted discrimination against African-Americans Hispanic Americans woman and others

72
Q

What signified the end of the new deal

A

passing the new deal legislation was difficult and only one piece was passed in 1938 which was the fair labor standards act
The Republicans made gains in both houses and Roosevelt like to congressional support he needed to pass new deal laws

US History (7 decks)

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