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83 Cards in this Set
- Front
- Back
In the 1920 Stock prices rose and the economy appeared _______.
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healthy
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Throughout most of the 1920s, Americans were generally confident that business would bring about continued ______.
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prosperity
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One sign that the economy might be weakening in the 1920s was the uneven distribution of national _____.
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wealth
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Periods in which the economy grows, then contracts.
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business cycle
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Information about stock prices is reflected in the ___.
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Dow Jones Industrial Average
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When stock prices fell suddenly in 1929 most investors raced to ______.
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sell their stocks
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When the Dow Jones Industrial Average began to drop sharply in late October 1929, investors raced to get their money ________.
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out of the stock market
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In the fall of 1929, a sudden fall in stock prices resulted in a wave of _______.
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panic selling of stocks
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October the twenty-ninth, 1929
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Black Tuesday
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A record 16.4 million shares of stock were sold.
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Black Tuesday
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Despite efforts to halt it, IT continued beyond Black Tuesday.
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Great Stock Market Crash
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During the 1920s banks loaned huge sums of money to ________.
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high risk businesses
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When their stock prices fell high risk businesses were unable to repay their loans to _____.
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banks
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When people borrowed money to pay for high cost consumer items.
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consumer borrowing
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When banks called in loans borrowers were often unable to ______.
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pay
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Fearful that banks would run out of money people rushed to make _____.
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withdrawals
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With businesses and consumers unable to repay their loans banks were thus unable to pay their _________.
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depositors
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After the Crash, thousands of American banks closed, because they could not ________.
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return depositors' money
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When banks failed millions of Americans lost their ____.
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savings
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Bank failures resulted in businesses not being able to borrow money to______.
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produce goods
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Because people did not have the money to buy goods businesses lacked the ________.
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incentive to produce goods
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As businesses cut back on production, they laid off workers and _________.
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unemployment grew
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As unemployment grew and incomes shrank, consumers spent even less, resulting in more production cuts in a _______.
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downward spiral
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Not long after Black Tuesday, the stock market crash was affecting millions of Americans many of whom had never _________.
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owned stock
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The Crash led to unemployment for ________.
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millions of workers
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The collapse of the American economic system led to a __________,
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worldwide depression
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European economies were hurt during the Depression when U.S. companies stopped investing in ______.
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Germany
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One sign that economy of the 1920s was unsound was that more goods were being produced than ________.
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consumers could buy
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One of the underlying causes of the Great Depression was the United States' ______.
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unstable economy
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During the Depression, wage cuts and unemployment eventually affected _________.
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all levels of society
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Those hit hardest by the Depression were the ____.
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low-paid laborers
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Many farms were auctioned off when farmers could not pay their ________.
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mortgages
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Loan given on the security of the borrower's property.
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mortgage
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When a laid off worker could not pay their mortgage they would often lose their ___.
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home
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Homelessness increased mainly because THEY lost their homes.
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laid-off workers
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During the Depression, homeless people set up _____.
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Hoovervilles
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Shanty towns built by the homeless during the Great Depression.
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Hooverville
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They sprang up in the nation's cities as a result of wage cuts and the unemployment of the 1930s.
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Hoovervilles
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In spite of the apparent prosperity of the 1920s farmers faced _________.
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hard times
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A major environmental crisis of the 1930s was known as the ________.
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Dust Bowl
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A parched region of the Great Plains, including parts of Oklahoma, Arkansas, and Texas, where a combination of drought and soil erosion created enormous dust storms in the 1930s.
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Dust Bowl
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During the Depression people's physical and mental health declined as a result of a ____.
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poor diet and anxiety
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During the Depression, African Americans, Hispanics, and Asian Americans often lost jobs to _______.
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white laborers
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Experienced worsening conditions during the depression and discrimination in job and relief programs.
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African Americans
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During the Depression, many members of minority groups lost their low-paying jobs to ___.
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whites
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During the Depression working women were often accused of ________.
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taking jobs away from men
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Photographer who showed the realities of the Depression to the nation.
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Dorothea Lange
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Her photographs of migrant workers helped win aid for the workers.
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Dorothea Lange
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The "Depression generation" avoided buying expensive items ______.
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on credit
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When a foreclosed farm was auctioned some people agreed to keep ______.
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bids low
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This party gained some support during the depression as a result of the terrible conditions.
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Socialist
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During the Depression radical and reform movements often worked together to seek ________.
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social justice
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During the Depression many people used IT to fight despair.
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humor
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Repeal of Prohibition
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Twenty-first Amendment
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Ratified in 1933, repealed the ban on alcoholic beverages.
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Twenty-first Amendment
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In 1933, the Twenty-first Amendment brought an end to ______.
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Prohibition
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One goal of those who worked to repeal Prohibition was to curb ______.
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gangsters
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Dramatic symbol of hope during the Depression.
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Empire State building
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Symbol of business in the 1920s who became labor's prime enemy in the 1930s.
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Henry Ford
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President Hoover believed that the best strategy for ending the Depression was encouraging _________.
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voluntary controls of the business sector
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Hoover believed that the best way to end the Depression was through controls by American businesses that were ________.
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voluntary
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Hoover believed that if people became dependent upon the government they would lose their _____.
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freedom
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Because Hoover believed business controls should be voluntary and because he believed government aid could eliminate people's freedom he refused to do much to eliminate the ______,
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pain of the Depression
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The widespread pain of the Depression, and democratic gains in congress, eventually forced Hoover to ____
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act
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1930 import tax, the highest in history.
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Hawley-Smoot tariff
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In 1930, Congress passed the IT to protect domestic industries from foreign imports.
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Hawley-Smoot tariff
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The Hawley-Smoot tariff backfired when, European countries raised their own tariffs, bringing a sudden slowdown in ______.
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international trade
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Was aimed to provide government credit to banks and other large industries.
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Reconstruction Finance Corporation
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The Reconstruction Finance Corporation reflected the theory (held by Hoover and others) that prosperity at the top would help the economy as a _____.
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whole
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The Hawley-Smoot tariff and the Reconstruction Finance Corporation were attempt to alleviate the pain of the Depression made during the ____.
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Hoover Administration
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World War I veterans who marched on Washington demanding immediate payment of a pension bonus that had been promised for 1945.
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Bonus Army
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President Hoover ordered General Douglas MacArthur to clear only Pennsylvania Avenue of the _____.
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Bonus Army
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Ordered force to be used against the Bonus Army to drive it out of Washington.
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Douglass MacArthur
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General MacArthur used force to get them to leave the capital.
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the Bonus Army
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As governor of New York worked vigorously for relief for the jobless.
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Franklin Delano Roosevelt
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President who promised the nation a "New Deal."
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Franklin Delano Roosevelt
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This Presidential candidates spirit of optimism appealed to Americans.
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Franklin Delano Roosevelt
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Roosevelt easily won the 1932 presidential election by promising a _______.
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New Deal for Americans
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Economist who believed that massive government spending programs could revive a failing economy.
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John Maynard Keynes
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The 1932 presidential election served as a turning point in the way Americans viewed the responsibilities of the ___.
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federal government
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A fundamental disagreement between the candidates in the 1932 presidential election concerned whether or not the federal government should try to fix __________.
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people's problems
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A turning point in the role of government in American society.
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Presidential election of 1932
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Wife of the President and experienced social reformer.
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Eleanor Roosevelt
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