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US History Chapter 12 "The Great Depression"

Terms in this set (25)

Some Americans blamed the Great Depression on
Capitalism.
The unemployment rate among African Americans was
nearly double the national rate
In 1929, the stock market crashed because
investors lost confidence in the market and rushed to sell their shares.
Why did volunteerism fail?
Businesses and citizens acted in their individual best interests
What economic condition did economist John Maynard Keynes believe caused the Great Depression?
Strict controls on stock speculation
Both African Americans and Mexican Americans had an especially difficult time during the Great Depression because they
faced discrimination when competing with white Americans for a limited number of jobs.
What was the destination of most Dust Bowl migrants?
Cities to find work
Why were banks one of the first institutions to feel the effects of the stock market crash?
People began to lose confidence in the economy and frightened depositors beagan to remove their money from banks
European countries reacted to the Hawley-Smoot Tariff by
passing higher protective tariffs.
Which of these factors helped hide economic problems in the 1920s?
Americas purchased many consumer goods on credit
Congress instituted the Reconstruction Finance Corporation (RFC) to loan money to
banks so they could lend money to business to stimulate economice activity.
What event happened when the veteran groups marched in protest on Washington?
Federal troops used tear-gas and marched with their bayonets on the protestors; many of the veterans were injured
Which factor contributed to the spread of the Great Depression overseas?
The US curtailed investment in Europe.
Farmers contributed to the problems that led to the Dust Bowl by
using intensive farming practices that removed protective grasses.
Why did many Americans decide that the country needed new leadership in 1932?
President Hoover's volunteerism and trickle-down economic policies had failed
During the 1920s, the United States economy moved through which phase of the business cycle?
expansion
At the onset of the Great Depression, urban unemployment
increased dramatically.
What event occurred on Black Tuesday?
Investors sold more than 16 million hares of stock
Which group experienced an early depression in the 1920s?
farmers
The policy of volunteerism called for which of the following?
Public works programs
Why did so many banks collapse at the beginning of the Great Depression?
Too many depositors tried to withdraw their money all at once
Why did the Bonus Army march on Washington, D.C.?
Congress passed a bill promising to pay veterans their bonuses in 1945
President Hoover responded cautiously to the Great Depression because he
thought the business cycle would correct itself.
President Hoover urged Congress to institute the (Reconstruction Finance Corporation) RFC because he believed that the economy suffered from
lack of credit.
What did President Hoover do that directly led the Bonus Army march on Washington in 1932?
Allowed federal troops to remove the Bonus Army with great force
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