All Flashcards
What is the Great Depression?
The most severe economic downturn in US history.
What is margin buying?
Investors borrowed money to buy stocks, inflating their value.
What was the Dust Bowl?
A period of severe dust storms causing ecological and agricultural damage in the Great Plains.
What were Hoovervilles?
Shantytowns where homeless people lived during the Great Depression.
What was the New Deal?
A series of programs and reforms enacted by FDR to combat the Great Depression.
What does 'run on the bank' mean?
Mass withdrawals of deposits causing banks to collapse.
Who were the 'Okies'?
Farmers who migrated to California from the Dust Bowl in search of work.
What was the Hawley-Smoot Tariff?
A tariff that raised taxes on imports, leading to a decline in global trade.
What is meant by FDR's 'First Hundred Days'?
The initial period of his presidency when many significant New Deal programs were enacted.
What does overproduction mean in the context of the Great Depression?
Companies and farmers produced too many goods, exceeding demand.
What was Black Tuesday?
October 29, 1929, the day the stock market crashed, triggering a massive sell-off.
What was the Bonus March?
WWI veterans marched on Washington demanding early payment of their bonus, but Hoover refused.
What happened in the Election of 1932?
Franklin Delano Roosevelt (FDR) won the election in a landslide, promising a New Deal.
What was the impact of bank failures during the Great Depression?
Lack of regulation and risky loans made banks vulnerable, and mass withdrawals caused them to collapse.
Describe the events of the Dust Bowl.
Overproduction and poor farming practices led to high winds, low rainfall, and soil erosion, devastating agriculture.
What was the effect of the Hawley-Smoot Tariff Act?
Raised taxes on imports, leading to a decline in global trade and worsening the Depression.
What were the key events during FDR's First Hundred Days?
FDR proposed numerous pieces of legislation to combat the Depression, launching the New Deal.
What was the impact of the stock market crash of 1929?
Triggered a downward economic spiral, leading to bank failures, unemployment, and reduced consumer spending.
What was the effect of purchasing reduction during the Great Depression?
Consumers reduced spending, further decreasing demand and exacerbating the economic downturn.
What was the impact of overproduction during the Great Depression?
Companies and farmers produced too many goods, exceeding demand and leading to surpluses and price drops.
What were the causes and effects of bank failures?
Causes: Lack of regulation, risky loans, mass withdrawals. Effects: Banks collapsed, loss of savings, economic contraction.
What were the causes and effects of the Dust Bowl?
Causes: Overproduction, poor farming practices, drought. Effects: Soil erosion, agricultural devastation, migration of Okies.
What were the causes and effects of the Stock Market Crash of 1929?
Causes: Unregulated credit, margin buying, inflated stock values. Effects: Economic downturn, bank failures, unemployment.
What were the causes and effects of the Hawley-Smoot Tariff?
Causes: Protectionist policies. Effects: Decline in global trade, worsened the Great Depression.
What were the causes and effects of overproduction?
Causes: Increased manufacturing efficiency, lack of demand. Effects: Surplus of goods, price drops, business failures.
What were the causes and effects of purchasing reduction?
Causes: Job losses, economic uncertainty. Effects: Decreased demand, business closures, economic contraction.
What were the causes and effects of the Bonus March?
Causes: WWI veterans seeking early payment of promised bonuses. Effects: Negative public perception of Hoover, increased social unrest.
What were the causes and effects of FDR's election in 1932?
Causes: Public dissatisfaction with Hoover's response, promise of a New Deal. Effects: Implementation of New Deal programs, increased government intervention.
What were the causes and effects of margin buying?
Causes: Desire for quick profits, unregulated credit. Effects: Inflated stock values, increased risk of market collapse.
What were the causes and effects of the Federal Reserve tightening the money supply?
Causes: Attempt to curb speculation. Effects: Worsened the economic crisis by reducing available credit.