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14 Cards in this Set
- Front
- Back
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What factors encouraged many Americans to participate in the bull market of 1920s?
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belief that quick profits could be made by buying and selling stock while prices were rising
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How did Speculation affect stock prices?
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inflated stock prices above their real values
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What caused the large scale selling of stocks in October 1929?
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nervousness and loss of confidence caused some investors to sell shares
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What is margin buying?
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purchasing stock with borrowed money
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What is Black Thursday?
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Oct 24, 1929 -- large investors who became nervous for a variety of reasons began to sell their shares
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What is Black Tuesday?
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Oct 29, 1929 -- the day the stock market crashed
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How did the depression affect the work force?
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massive unemployment, wages and earnings dropped for workers
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What impact did the Great Depression have on living conditions in rural areas?
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hardships! --drop in farm income led to foreclosures, evictions
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How were urban communities affected by the Great Depression?
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cities were hit hard! --received little federal aid
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In what ways did individuals and communities try to cope?
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people formed mutual-aid societies, helped hungry with free food; homeless formed shanty towns
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Why did President Hoover rely on local and voluntary efforts and oppose direct federal relief for those in need?
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because he believed that voluntary efforts were preferable to government programs which he believed would undermine self respect and inflate the federal budget
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What measures did the Hoover administration support to end the depression?
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asked Congress to fund some public works programs, instructed Federal Farm Boar to buy surplus farm products, recommended passage of Home Loan Bank Act, created RFC
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Why did Hoover's initiatives fail?
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crisis was to huge!
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Why did public unrest grow during the Hoover administration?
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personality--Hoover came off as if he did not care
worsening depression |
