The Great Depression : 1/7/15 Flashcards Preview

US History II : Student Notes > The Great Depression : 1/7/15 > Flashcards

Flashcards in The Great Depression : 1/7/15 Deck (73)
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1

_______ _______ became president in a landslide win over ______ __ _____ in 1928.

Herbert Hoover, Alfred E. Smith

2

_______ was _______ of ______ and head of the _____ _________.

Hoover, Secretary of Commerce, Food Administration

3

_______ was a _________.

Hoover, Republican

4

The _____ _______ is a system for buying and selling stock in corporations.

Stock market

5

A long period of rising stocks is known as a ____ _______.

Bull market

6

A market condition in which prices of securities are falling, thus causing pessimism in the market is known as a _____ _______.

Bear market

7

By 1929, ____ of American households own _____.

10%, stock

8

________ is the act of buying stocks at great risk with the anticipation that the prices will rise.

Speculation

9

______ is buying stock by paying only a fraction of the stock price and borrowing the rest.

Margin

10

A ______ ___ is a demand by a broker that investors pay back loans made for stocks purchased on margin.

Margin call

11

In _______ ____, the market peaked.

September 1929

12

On October 24, a day that became known as _____ ______, the market plummeted further than three days earlier.

Black Thursday

13

The following week, October 29, a day that was later dubbed ______ ________, prices took the steepest dive.

Black Tuesday

14

The _________ ____ is a measure of the value of leading industrial companies.

Industrial index

15

____ ______ was lost, which was equal to the total wages Americans earned in 1929.

$30 billion

16

The _____ _____ weakened the nation's ____ in two ways : 1. By 1929, _____ had lent _____ to ____ ______. 2. Many ____ had invested _______ money in the ____ ______.

Market crash, banks, banks, billions, stock speculators, banks, depositor's, stock market

17

News of the ____ _______ led to ____ ____.

Bank failures, bank runs

18

A _____ ____ is caused by persistent and heavy demands by bank's depositors, creditors, or customers to withdraw money.

Bank run

19

About ___ in ____ banks in the US had gone out of business.

One in four

20

What are the three causes of the Great Depression? 1. ______ ______ of ____ 2. ____ of _____ ____ 3. ________ by the _______ ______

1. Uneven distribution of income 2. Loss of export sales 3. Mistakes made by the Federal Reserve

21

________ was a factor leading to the onset of the Great Depression.

Overproduction

22

_________ ________ was nonexistent.

Unemployment insurance

23

The _____-_____ ______ raised the average tariff rate to the highest level in American history.

Hawley- Smoot Tariff

24

A ______ in _____ hurt both American companies and farmers.

Decrease in exports

25

Access to ____ _____ propelled the stock market.

Easy money

26

_______ _______ ______ kept its rates low throughout the 1920s.

Federal Reserve Board

27

The ______ failure to raise _____ _____ significantly helped cause the Depression in two ways. : 1. By keeping rates ___, the _______ encouraged member banks to make ______ _____. 2. The ____ _____ ____ led business leaders to think that the economy was still ________.

Board's, interest rates, low, Board, risky loans, low interest rates, expanding

28

A _______ is a sustained, long term downturn in economic activity in one or more economics.

Depression

29

An ________ _______ is a slowdown in economic activity over the course of a normal business cycle.

Economic recession

30

People who were evicted built shantytowns, which they called __________ after the president they blamed for their plight.

Hoovervilles