Chapter 21 american history – Flashcards
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What event occurred on Black Tuesday?
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Investors sold more than 16 million shares of stock
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Why did president Hoover not provide direct relief to struggling individuals during the Great Depression?
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He believed deal public assistance was unconstitutional
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What event happened when the veteran groups marched in protest on Washington?
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Federal troops used tear gas and marched with their bayonets on the protestors; many of the veterans were injured
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Which of the factors helped hide economic problems in the 1920s?
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Americans purchased many consumer goods on credit
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People likely abandoned this place because...
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The land could not be farmed
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During the 1920s, the United States economy moved through which phase of the business cycle?
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Expansion
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Some Americans blame the Great Depression on...
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Capitalism
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The policy of volunteerism called for which of the following?
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Public works programs
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In 1929, the stock market crashed because...
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Investors lost confidence in the market and rushed to sell their names
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At the onset of the Great Depression, urban unemployment...
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Increased dramatically
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Which factor contributed to the spread of the Great Depression over seas
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The United States curtailed investment in Europe
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Why did volunteerism fail?
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Businesses and citizens acted in their individual bets interests
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How did the uneven distribution of the nation's wealth lead to the Great Depression?
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(all of the above) a) acquiring a line of credit was easy, but it caused more debt for people who could not make payments b) farmers had a huge surpluses of crops but demand for them decreased drastically so they went into debt c) wealthy people gre wealthier and had money to spend on consumer products, but this spending was not enough to keep people the economy booming
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Which of these factors contributed to the plight of rural farmers?
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Falling prices for crops and livestock
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Both african Americans and Mexican Americans had an especially difficult time during the Great Depression because they...
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Faced discrimination when competing with white Americans for a limited number of jobs
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Why did the bonus army march in Washington D.C.?
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President Hoover vetoed a bill providing for early payment of bonuses
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Farmers contributed to the dust bowl by...
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Using intensive farming practices that moved protective grasses
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Why did commodities prices continue to decrease during the Great Depression at a time when so many people were going hungry?
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Overproduction confined when people had no money to buy products
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What was the destination of most dust bowl migrates?
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Cities to find work
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Why were banks one of the first institutions to feel the effects of the stock market crash?
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People began to lose confidence in the economy, and frightened depositors
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European countries reacted to the Hawley-Smoot Tarriff by
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Passing high protective tariffs
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How did the Federal Reserves tight monetary policy affect the economy...
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It reduced the money supply, which limited the amount of money in circulation
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What economic condition did economist John Maynard Keynes believe caused the Great Depression?
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Limits on production and consumer spending
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President Hoover used congress to institute the reconstruction Finance Corporation (RFC) because he believe that the economy suffered from...
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A lack of credit
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Why did many Americans decided that the country needed new leadership in 1932?
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President hoovers volunteerism and trickle-down economic policies had failed
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Congress instituted the Reconstruction Finance Corporation (RFC) to loan money to...
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Banks so that they could lend money to businesses to stimulate economic activity
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Which group experienced an early depression in the 1920s?
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Farmers
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President Hoover responded cautiously to the Great Depression because he...
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Thought that the business cycle would correct itself
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The unemployment rate among african Americans was...
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Nearly double the national rate
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The occasion of the stock market crash
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Black Tuesday
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The theory that money invested in banks and business will work its way through the system to laborers
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Trickle-down economy
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Agricultural workers who work on land owned by somebody else
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Tenant farmers
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Dust bowl refugees who moved westward to find work
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Okies
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Government efforts to encourage or pressure Mexican immigrants to return to Mexico
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Repatriation
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Risky stock purchases made by investors with the hope of high return
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Speculation
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The periodic expansion and contraction of the economy
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Business cycle
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General who dispersed protestors in the capital by ordering federal troops to fire on the, with tear gas
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Douglas MacArthur
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President when the stock market crashed
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Herbert Hoover
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WWI veterans who marched to demand payment of money promised by congress
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Bonus army
