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40 Cards in this Set
- Front
- Back
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When Calvin Coolidge decided not to run in 1928, he cleared the way for ____________ to head the Republican ticket.
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- Herbert Hoover
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The Democrats chose ________, an Irish American from New York's Lower East Side, and the first ________ ever nominated for president.
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- Alfred E. Smith
- Roman Catholic |
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Many Protestants were willing to believe that the __________ financed the ________ and would rule the Unites States if Smith got into the White House.
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- Catholic Church
- Democratic Party |
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A long period of rising stock prices is known as a _________.
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- bull market
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Because of such a market, by 1929 between _____________ or roughly 10% of households, owned stocks.
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- 4 million
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Many investors bought stocks on ________, meaning they made only a small cash down payment with the rest coming as a loan from a ________.
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- margin
- stockbroker |
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A problem arose if the stock began to fall in price, causing the broker to issue a ___________, demanding the investor repay the loan at once.
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- margin call
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***The stock market slide was not the major cause of the ____________, but it undermined the economy's ability to hold out against its other weaknesses.
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- Great Depression
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Another way the crash weakened the banks was that many banks themselves had taken depositors' money and invested it in the __________ hoping for higher returns than they could get by using the money for ____________
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- stock market
- conventional loans |
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A ________ takes place when many depositors decide to withdraw their money at one time, usually for fear the bank is going to collapse.
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- bank run
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***Most economists agree that ___________ was a key cause of the Depression.
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- overproduction
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Many people who had bought high-cost items such as refrigerators on the __________ reached a point where paying off their debts forced them to reduce other purchases.
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- installment plan
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When sales of goods slowed, manufacturers cut production and ____________.
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- laid off employees
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The ___________ raised the tax on many imports to the highest level in American history, and damaged American sales abroad.
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- Hawley-Smoot Tariff
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In 1932 alone, some __________ companies went out of business, and by 1933 more than ________ banks had failed.
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- 30,000
- 9,000 |
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Throughout the country, newly homeless people put up shacks on unused or public land, forming communities called ___________.
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- shanty towns
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Blaming the president for their plight, people referred to such places as __________
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- Hoovervilles
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From the __________ to ________, America's pastures and wheat fields became a vast "Dust Bowl."
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- Dakota
- Texas |
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Many families packed their belongings into old cars or trucks and headed ________, hoping for a better life in ________
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- west
- California |
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Despite the hard times, Americans could escape--if only for an hour or two---through ____________
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- entertainment
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Ordinary citizens might see reflections of themselves in the movies, but more often they saw people who were ________, _______ or _________
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- rich
- happy - successful |
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Many European actors , writers and directors, fleeing ________ and the growing threat of ___________, went to Hollywood in the 1920s and 1930s
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- economic hardship
- dictatorship |
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In Gone with the Wind, audiences found ___________ in Scarlett's unassailable will to survive
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- inspiration
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Radio melodramas such as "The Guiding Light" were often sponsored by makes of laundry soaps, causing the shows to be nicknamed ____________
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- soap operas
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During the Depression, the ________ and ________ became the subject of pictures and stories as artists and writers tried to protray life around them.
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- homeless
- unemployed |
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The writing of novelists such as John Steinbeck evoked both sympathy for their characters and indignation at ____________
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- social injustice
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Of what did President Hoover assure the nation on Friday October 25, 1929, the day after Black Thursday?
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- that industry was on a sound and prosperous basis
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What did President Hoover win from industry and what was the result?f
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- A pledge from industry to keep factories open and to stop slashing wages
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***What did President Hoover see as problems with government-paid public works jobs?
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- it would take money away from consumers and hurt businesses that were already struggling
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What was President Hoover's fear about deficit spending?
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- would actually delay an economic recovery
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***What was the purpose of the National Credit Corporation (NCC)?
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- created a pool of money in their communities
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Why did the Reconstruction Finance Corporation (RFC) fail?
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- failed to increase its loan in sufficient amounts to meet the need and the economy continued its decline
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Why did President Hoover oppose the federal government's participation in relief?
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- believed that only state and city governments should dole out relief
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What was the purpose of the Emergency Relief and Construction Act?
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- Act called for $1.5 billion for public works and $300 million in loans to the states for direct relief
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Why did the Communist Party participate in the hunger marches of the early 1930s?
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- they were eager to take advantage of national problems to change the American form of government
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What was the series of events that caused nearly one million farmers to lose their farms between 1930 & 1934?
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-
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How did some farmers try to raise crop prices?
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- began to raise crop prices by reducing the supply
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How did the effort of the Bonus Army end in July of 1932?
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- the bill passed
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***What did President Hoover expand more than any previous president?
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- The economic role of the federal government
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What action of President Hoover"s marked the first time an American president used federal power to intervene in the economy during peacetime?
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-established a federal agency
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