| A | B |
|---|
| What was life like at the beginning of the 1920's? | the economy appeared healthy, life expectancy increased, entertainment options increased, medical advances had been made in treating whooping cough and diptheria. |
| Who wrote the book: Everyone Out To Be Rich? | John J. Raskob |
| What did John J. Raskob say in his book Everyone Ought To Be Rich? | that people should begin saving and that they should buy stock with borrowed money. |
| When companies try to meet their workers demands without labor unions in order to keep the labor unions weak, it is called ___________ | welfare capitalism |
| What were some economic danger signs during the 1920's? | uneven prosperity, buying on credit, playing the stock market, too many goods with too little demand, low farm prices |
| The practice of making high-risk investments in hopes of receiving a high gain. | speculation |
| When investors purchase a stock for only a fraction of the cost and borrow the rest, what is it called? | buying on margin |
| What was the McNary-Haugen farm relief bill? | It was passed by congress twice, but each time Coolidge vetoed it. It was to increase the price farmers received for their goods. |
| This is an average of all stock prices of major industries. | Dow Jones Industrial Average |
| What was Black Thursday? | In was on this day that stocks fell dramatically and worried investors began selling their stock. |
| How did some bankers try to stop the panic of Black Thursday? | They pooled their money to buy stock and try and stabilize the market, but it was not successful |
| What was Black Tuesday? | the day of the Great Stock Market Crash, Oct. 29, 1929. |
| The Great Stock Market crash triggered a much wider long-term crisis known as what? | The Great Depression |
| This was a severe economic decline that lasted from Oct. 1929 until the U.S. enterd WWII in 1941. | The Great Depression |
| What impact did the Great Depression have on workers and farmers? | Factories began to close and people lost their jobs and farm prices began to fall. |
| the total value of goods and services that a country produces annually. | Gross National Product |
| How do banks make their money? | by charging interest on deposits that they loan out. |
| How did the Great Depression affect the entire world economy. | The U.S. recalls the loans they made to Britain and France during World War I, in order to make their payments, Great Britain and France ask Germany for the war reparations that they owe them. Germany can not pay the war reparations to Great Britain and France because the United States had many businesses that invested in Germany and the when the stock market crashed, those businesses in Germany closed with left Germany with a lot of unemployment. |
| What was the cause of the Great Depression? | The stock market crash was not the cause of the Great Depression, it was just the final push. Other underlying causes include: Overspeculation, Federal Government policies that did not stimulate the economy and spur economic growth, and the fact that the money was concentrated in just the hands of a few people. |
| Who regulates the amount of money in circulation in the United States? | The Federal Reserve |
| An item of value that a borrower agrees to forfeit to the lender if the borrower can not repay the loan. | collateral |
| These were shantytowns made from tar paper, cardboard or scrap material. | Hoovervilles |
| How did farmers react to the low farm prices during the Great Depression | They dumped thousands of gallons of milk and destroyed crops in protest |
| This was when a region in the Great Plains experienced drought and dust storms took place for much of the 1930's | The Dust Bowl |
| During the Dust Bowl, many farmers relocated to which state? | California |
| She was a photographer in California who documented the people of the depression and showed their desperation to the world. Her pictures stirred public attention and helped to win aid for the workers. | Dorthea Lange |
| This was set up by FDR to help farmers recover from the Depression. | Farm Security Administration |
| This was a novel written by John Steinbeck and was about the Great Depression. | The Grapes of Wrath |
| Who suffered the most during the Great Depression? | The children who suffered from malnutrition |
