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Great Depression
7-4.3 Review
| Question | Answer |
|---|---|
| What were the causes of the Great Depression? | high unemployment, people had a lot of debt, bank mismanagement, cost of WWI |
| What is a reason that banks were a cause of the GD? | They lent out risky loans that could not be paid back |
| What is a reason unemployment was a cause of the GD? | People with no jobs have no money to spend, this caused businesses to go bankrupt and loans weren't paid back |
| How was WWI a cause of the GD? | Countries were torn apart and needed to rebuild, rebuilding was extremely expensive even with Germany paying reparations. |
| What does buying "on margin" mean? | When a person wants to buy a stock, but borrows some of the money to do it. |
| What is inflation? | The rate at which the price of goods/services increases; a percentage |
| Who was president in the US during the Great Depression? | Hoover, then Franklin D Roosevelt |
| What was Black Tuesday? | the stock market crash of 1929; billions of dollars were lost and companies had to lay off workers |
| In supply and demand, demand is: | How much people want a product |
| In supply and demand, supply is: | How much of a product is available |
| During the Great Depression, there was ______ was greater than demand | supply |
| Effects of the Great Depression were similar to the causes, they included: | unemployment, bankruptcy, bank closings, homelessness |
| How did the US collapse effect Europe? | It made the worldwide depression worse because the economies depended on each other. |
| Many countries returned to ___, thinking they needed to focus on themselves to get out of the depression. | Isolationism |
| Welfare capitalism was: | Capitalism that includes policies to help society when it is needed |
| Totalitarianism is: | a government system where leaders have total authority and seek to control daily life |
| US responded to the Great Depression with: | The New Deal |
| The New Deal included: | financial reforms and social programs to help the US get out of and stay out of depression |
| Protectionist Policies are: (Britain's response) | policies that are meant to protect a country's industries from foreign competition |
| During this time (early 1930s), _____ is taking power in Germany | Hitler |
| Which 3 countries turned to totalitarian governments? | Italy, Japan, and Germany |
| The Great Depression was used as a reason for these countries to return to: | Isolationism |
| totalitarian government, belief that Germans are superior, and absolute power of the fuhrer is known as: | Nazism |
| an economic and political system in which goods are owned in common and are available to all as needed | Communism |
| a way of organizing a society in which major industries are owned and controlled by the government rather than by individual people and companies | Socialism |
| government is run by a dictator who controls the lives of the people, people are not allowed to disagree with the dictator; extreme nationalism | Fascism |
| censorship | to keep someone from writing, saying, or sharing something that is seen as inappropriate or wrong |
| Gestapo | Nazi Secret Police |
| Joseph Stalin | dictator; Soviet Union |
| Benito Mussolini | dictator; Italy |
| Adolf Hitler | Fuhrer; Germany |
Created by:
cassandra_lock
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