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causes of the GD
| Question | Answer |
|---|---|
| stock market, what is it, how does it function | If you have a stock in a company, you own a small fraction of the corporation, when the company does well so do your profits and if the company is doing bad so does your profits. |
| why were speculation and buying stocks on the margin dangerous activities to engage in | those who had bought stocks on margin not only lost the value of their investment, they also owed money to the entities that had granted the loans for the stock purchases |
| Black Tuesday, what happened and date | October 29, 1929, "Black Tuesday" hit Wall Street as investors traded some 16 million shares on the New York Stock Exchange in a single day. Around $14 billion of stock value was lost, wiping out thousands of investors. |
| Why did the banks collapse in the Great Depression | lacked sufficient reserves to stay in business |
| what is an economic contraction | a decrease in economic activity and an economy as a whole over an extended period that can last from a few months to several years |
| define depression | a long and severe recession in an economy or market. |
| The federal reserve, what is it, what does it do, what mistakes did it make which helped caused the Great Depression. | created to supervise all banks, control our money supply and credit policies. had low interest rates then depression hit, raised him |
| What were the 6 general causes of the Great Depression | low interest rates, overproduction, uneven distribution of wealth, high tariffs, falling demand, stock market speculation. |
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