US History Great Depression Chapter 14 – Flashcards
Unlock all answers in this set
Unlock answersquestion
Which group experienced an early depression in the 1920's?
answer
Farmers
question
During the 1920's, the United States economy moved through which phase of the business cycle?
answer
Expansion
question
In 1929, the stock market crashed because
answer
Investors lost confidence in the market and rushed to sell their shares
question
Which factor contributed to the spread of the Great Depression overseas
answer
The United States curtailed investment in Europe
question
People likely abandoned this place because
answer
The land could not be farmed
question
Which of these factors helped hide economic problems in the 1920's?
answer
Americans purchased many consumer goods on credit
question
What event occurred on Black Tuesday?
answer
Investors sold more than 16 million shares of stock
question
European countries reacted to the Hawley-Smoot Tariff by
answer
Passing high protective tariffs
question
What economic condition did economist John Maynard Keynes believe caused the Great Depression?
answer
Lack of government intervention
question
At the onset of the Great Depression, urban employment
answer
Increased dramatically
question
Which of these factors contributed to the plight of rural farmers?
answer
Falling prices for crops and livestock
question
Farmers contributed to the problems 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
President Hoover responded cautiously to the Great Depression because he
answer
Thought that the business cycle would correct itself
question
The policy of volunteerism called for which of the following?
answer
Public works programs
question
President Hoover urged. Congress to institute the Reconstruction Finance Corporation 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 decide that the century needed new leadership in 1932?
answer
President Hoover's volunteerism and trickle-down economic policies had failed
question
How did the uneven distribution of the nation's wealth lead to the depression?
answer
All of the above
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
What event happened when the veteran groups marched in protest on Washington?
answer
Federal troops used tear-gas and marched with their bayonets on the protestors; many of the veterans were injured
question
Both African Americans and Mexican Americans had an especially difficult time during the Great Depression because they
answer
Faced discrimination when competing with white Americans for a limited number of jobs
question
Why did volunteerism fail?
answer
Businesses and citizens acted in their individual best interests
question
Congress instituted the Reconstruction Finance Corporation to loan money to
answer
Banks so that they could lend money to businesses to stimulate economic activity
question
Why did the Bonus Army march on Washington, D.C.?
answer
President Hoover vetoed a bill providing for early payment of bonuses
question
How did the Federal Reserves's tight monetary policy affect the economy?
answer
It reduced the money supply, which limited the amount of money in circulation
question
Why did commodities prices continue to decrease during the Great Depression at a time when so many people were going hungry?
answer
Overproduction continued when people had no money to buy products
question
Why did President Hoover not provide direct relief to struggling individuals during the Great. Depression?
answer
He believed federal public assistance was unconstitutional
question
The occasion of the stock market crash
answer
Black Tuesday
question
The occasion of the stock market crash
answer
Black Tuesday
