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US His 8

Business cycle Periodic Expansion and contraction of the economy
Herbert Hoover US Pres. from 1929 to 1933
Black Tuesday Time at which the stock market collapsed in the Great Depression
Hawley-Smoot Tariff Tax passed in 1930 on foreign products brought into the United States
Speculation Risky stock purchases intended to turn quick profits
The Great Depression Time of economic downturn and high unemployment between 1929 and 1941
During the 20's Americans bought many goods on credit. Factor that helped hide the economic problems in the 1920's
Why did so many banks fail at the beginning of the depression? Many depositors withdrew all their money at once
What did European countries do in reaction to the Hawley-Smoot Tariff? Placed a tariff (tax) on American imports
Believed that the lack of government intervention caused the Great Depression John Maynard Keynes
Hooverville Makeshift shantytowns of tents and shacks built by homeless during Great Depression
Okies Dust Bowl refugees from the Great Plains that headed west looking for work
Tenant farmers Lived on and worked land owned by someone else
Repariation Process used by local, state, and federal governments to encourage or force Mexican immigrants return to Mexico
Bread lines People waiting for free food from charities and public agencies for the
Dust Bowl Term given to the central and southern Great Plains during the 1930's when the region suffered from a drought
Hoover flag Empty pants pockets turned inside out
Hoover blanket Newspapers
Dirty Thirties Term used to describe the years of the drought that existed in the central and southern plains during the 1930's
What happened to the unemployment rate at the beginning of the Great Depression? It increased dramatically
Taxpayers Protection League Resisted evictions by staging nonviolent protests
How did farmers contribute to the problems that led to the Dust Bowl? By removing protective grasses
Which groups unemployment rate was almost double that of the national rate? African Americans
Localism Idea that problems could best be solved at local and state levels
RFC Reconstrucion Finance Corporation Act - gave more than $1 billion in loans to banks and railroads to hire workers and increase production
Trickle-down economics Money lent to banks and businesses would trickle down to consumers
Hoover Dam On Colorado River-created jobs for people living in the SW
Bonus Army WWI veterans who marched on Washington D.C. demanding early payment of bonus promised them by Congress for their military service
Douglas MacArthur Genral who used military force to drive WWI veteran protestors out of Washington D.C.
Why did Pres. Hoover respond cautiously to the depression? He thought the business cycle would correct itself
Why did Hoover urge Congress to institute the RFC? He thought the US economy suffered from a lack of available credit
Some americans blamed the Great Depression on this. Capitalism
Why did Americans want new leadership in 1932? The current presidents policies failed to create jobs and provide a better life for Americans.
Who was President when the stock market crashed? Herbert Hoover
Black Tuesday Day the stock market crashed, 10-29-1929
Which group was experiencing a depression in the 1920's? Farmers
Why did the stock market crash? Investors panicked and rushed to sell their shares.
Why did the Great Depression affect European nations? Europe had less money because the US reduced investments in Europe
What did African American and Mexican American workers face when looking for jobs during the Great Depression? Discrimination
Why did volunteerism fail? Businesses and citizens acted in their own best interests.
What was one of the main reasons for the stock market crash? Stock prices had risen too high because of speculation
How did the Hawley-Smoot Tariff help spread the depression globally? Europeans retaliated by creating their own protective tariff
Factors that brought about the Dust Bowl Drought, high winds, and farming methods
Oct. 29, 1929 Black Tuesday
Penny Auction Farmers would come to the rescue of their neighbors and bid pennies on the dollar when the bank auctioned off the land to the highest bidder, then the highest bidder would return the land to the original farmer
Reconstruction Finance Corporation Created in 1932 by encouragement of Pres. Hoover. Lent more than a billion dollars to railroads and business in hopes it would encourage the creation of news jobs the poor could get to jump start the US economy
Franklin D. Roosevelt Followed Pres. Warren J. Harding
Created by: sudokken
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