History Chapter 21 test – Flashcards
Unlock all answers in this set
Unlock answersquestion
Which group of people experienced an early depression in the 1920s?
answer
Farmers
question
During the 1920s, the United States economy moved through which phase of the business cycle?
answer
Expansion
question
Why did the stock market crash in 1929?
answer
Investors lost confidence in the market and rushed to sell their shares
question
Why did the Great Depression spread overseas?
answer
The people overseas that the U.S normally traded with lost business because since the U.S had no money and the U.s curtailed investment in Europe
question
How did falling prices for crops and livestock affect farmers?
answer
They led to the plight of rural farmers
question
What did President Hoover's policy of volunteerism ask businesses and governments to do?
answer
To create public work programs
question
Why were banks one of the first institutions to feel the effects of the stock market crash?
answer
People began to lose confidence in the economy and frightened depositors began to remove their money from banks
question
What was the destination of most Dust Bowl migrants?
answer
Cities to find work
question
Why did both African Americans and Mexican Americans have an especially difficult time during the Great Depression?
answer
They faced discrimination when competing with white Americans for limited number of jobs
question
Why did volunteerism fail?
answer
Businesses and citizens acted in their individual best interests.
question
The Reconstruction Finance Corporation (RFC) loaned money to which institution?
answer
They gave government loans to railroads, banks, and big businesses (financial institutions)
question
Why did the Bonus Army march on Washington, D.C.?
answer
To demand their war bonus early because of the depression
question
How did the Federal Reserve's tight monetary policy affect the economy?
answer
It reduced the money supply, which limited the amount of money in circulation
question
Why did President Hoover not provide direct relief to struggling individuals during the Great Depression?
answer
He believed public assistance was unconstitutional
question
ESSAY- What economic factors and conditions converged in the late 1920s to plunge the nation into the Great Depression?
answer
Farmers piled up debt, over produced food causing prices to fall.
Industry produced more than was bought, many items bought on credit.
Disparity in wealth; few getting wealthy and not spending enough to match the production output.
Prices declined, people panis and sold stock and took money out of the banks.
question
A time of economic downturn and high unemployment between 1929 and 1941
answer
Great Depression
question
The periodic expansion and contraction of the economy
answer
Business cycle
question
United States president from 1929 to 1933
answer
Herbert Hoover
question
A risky stock purchase intended to turn quick profits
answer
Speculation
question
A tax passes in 1930 on foreign products brought into the United States
answer
Hawley-Smoot Tariff
question
The time at which the stock market collapsed in the Great Crash
answer
Black Tuesday
question
What factor helped hide the economic problems in the 1920s?
answer
Americans purchased many consumer goods on credit
question
Why did so many banks fail at the onset of the Great Depression?
answer
Too many depositors tried to withdraw their money all at once
question
European countries reacted to the Hawley-Smoot Tariff by
answer
Taxing American imports
question
What economic condition did economist John Maynard Keynes believe causes the Great Depression?
answer
Lack of government intervention
question
Dust bowl refuges from the Great Plains, called _____ headed West to look for work
answer
Okies
question
During the Great Depression, many homeless people grouped together to build _____ or makeshift shantytowns of tents and shacks
answer
Hoovervilles
question
_____ lived on and worked land owned by someone else
answer
Tenant Farmers
question
Local, State, and federal governments tried to coerce Mexican immigrants to return to Mexico through _____
answer
Repatriation
question
Impoverished people in the cities often waited in ____ to obtain free food from charities and public agencies
answer
Bread lines
question
The _____ amused hundreds of thousands of people to migrate from the Great Plains
answer
Dust Bowl
question
At the onset of the Great Depression, urban unemployment
answer
Increased dramatically
question
Members of the Taxpayers Protection League resisted evictions by
answer
Staging nonviolent protests
question
Farmers contributed to the problems that led to the Dust Bowl by
answer
Using intensive farming practices that removed protective grasses
question
The unemployment rate among African Americans was
answer
Nearly double the national rate
question
Policy where local and state governments act as a primary agent of economic relief
answer
Localism
question
Federal agency provided to give government credit to banks, railroads, and other large businesses
answer
RFC
question
The theory that money lent to banks and business will trickle down to consumers
answer
Trickle down economics
question
Dam on the Colorado River that was built during the Great Depression that provided much needed employment
answer
Hoover Dam
question
World War 1 veterans who demanded early payment of a bonus promised to them by congress
answer
Bonus Army
question
General that Hoover appointed to order the Bonus Army out of Washington
answer
Douglas MacArthur
question
President Hoover responded cautiously to the depression because he
answer
Thought that the business cycle would correct itself
question
President Hoover urged congress to institute the RFC because he believed that the economy suffered from
answer
A lack of credit
question
Some Americans blamed the Great Depression on
answer
Capitalism
question
Why did many Americans want new leadership in 1932
answer
President Hoover's economic policies had failed
