The Depression Flashcards
(20 cards)
What caused the 1929 great depression?
A crash on the Wall Street stock market
How much did industrial production decrease by?
45%
How many banks went out of business?
5000
By what year was America in its greatest economic depression in it’s history?
By the winter of 1932
How many unemployed?
13 million
What year and why did America recover from the American depression?
1941 America join World War Two
What caused depression?
Overproduction we’re not enough people to buy the produce
What did overproduction lead to?
Loss of jobs, falling prices and unequal distribution of wealth
How many lived below the poverty line?
Millions- earning less than $2,000 a year
How did the USA depression lead to a global depression?
Learnt many European countries billions and billions of dollars. When they entered their depression, they recalled these loans ending up with these countries becoming poor too.
What was the name of the American president who was elected in 1928?
Herbert Hoover
When did the Wall Street crash happen?
The Wall Street crash happened in October 1929
What was the biggest underlying economic problem?
Overproduction and underconsumption
The number of unemployment reaches peak at put an…
The number of unemployed reached its peak upwards of 13 million
What were the shanty towns called that many people lived in?
Hoovervilles
What did the sign say that went up across America?
“No men wanted”
Who was the Democratic candidate in the presidential election of 1932?
Franklin D Roosevelt
Who won the election of 1932?
The Democrats and Franklin D Roosevelt
American economy did not fully recover until…
1941
When was the depression most severe?
Winter 1932
