US History Chapter 8 – Flashcards
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Which group experienced an early depression in the 1920s?
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farmers
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during the 1920s, the US economy moved through which phase of the business cycle
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expansion
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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 stores
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which factor contributed to the spread of the Great Depression overseas?
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the US curtailed investment in Europe
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what does this photograph show
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the dust bowl
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People likely abandoned this place because
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the land could not be farmed
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Which of these factors helped hide economice problems in the 1920s
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Americans purchased many consumer goods on credit
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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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European countries reacted to the Hawley-Smoot Tariff by
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passing high protective tariffs
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What economic condition did economist John Maynard Keynes believe caused the Great Depression
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lack of government intervention
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At the onset of the Great Depression, urban unemployment
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increased dramatically
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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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Farmers contributed to the problems that led to the Dust Bowl by
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using intensive farming practices that removed protective grasses
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The unemployment rate among African Americans was
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nearly double the national rate
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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 policy of volunteerism called for which of the following
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public works programs
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President Hoover urged Congress to institute the RFC because he believed that the economy suffered from
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a lack of credit
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Some Americans blamed the Great Depression on
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capitalism
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Why did many Americans decide that all the country needed new leadership in 1932?
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President Hoover's volunteerism and trickle-down economic policies had failed
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How did the uneven distribution of the nations wealth lead to the depression
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all of the above
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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 began to remove their money from banks
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What was the destination of most Dust Bowl migrants
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cities to find work
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What even 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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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 volunteerism fail
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Businesses and citizens acted in their individual best interests
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Congress instituted the 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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Why did the Bonus Army march on Washington, D.C.
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President Hoover vetoed a bill providing for early payment of bonuses
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World War I veterans who marched to demand payment of money promised by congress
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Bonus Army
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Dust Bowl refugees who moved westward to find work
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Okies
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Risky stock purchases made by investors with hope of high returns
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Speculation
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presdient when the stock market crashed
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Herbert Hoover
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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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the theory that money invested in banks and businesses will work its way through the system to laborers
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trickle down economics
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general who dispersed protestors in the captial by ordering federal troops to fire on them with tear gas
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Douglas MacArthur
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the periodic expansion and contraction of the economy
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business cycle
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agricultural workers who work on land owned by someone else
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tenant farmers
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the theory that money invested in banks and businesses will work its way through the system to laborers
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localism
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the occasion of the stock
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Black Tuesday
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How did the Federal Reserves's 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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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 continued when people had no money to buy products
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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 federal public assistance was unconstitutional
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Explain economic factors and conditions in 1920s that led to great depression
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Discuss why hoover failed to bring nation out of depression (what did he try and why did it fail)
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Understand how each groups were impacted by depression : farmers, industrial workers, stock market investors, bank owners
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Understand 4 phases of business cycle
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