The Great Depression

What was the Great Depression?

• A time when the United States was economically strong.

• A severe decline in the U.S. economy

• A time where stocks were doing really well

What does it mean to buy something on credit?

• You never have to actually pay for the item.

• You get to pay less for the item.

• You borrow the money fro the bank and pay it back later.

What lead to the economy crashing in 1929?

• Americans had bought too many goods on credit.

• Americans all went to get their money out of the banks at once.

• Americans sold a bunch of stocks at once.

• All of the above

Why did unemployment start getting worse as the Great Depression began?

• There was high consumer demand and a large supply of products.

• There was low consumer demand and a large supply of products.

• There was high consumer demand and a small supply of products.

What is a stock?

• A piece of a company.

• A plant that grows out of the ground.

• A savings account

What was a Hooverville?

• A town in Washington D.C.

• Cities full of shacks built with scrap materials

• Wealthy neighborhoods in the city

What were two causes of the Dust Bowl?

• drought and raising cattle (cows)

• rain and over-plowing fields

• drought and over-plowing fields

After the Dust Bowl and the Great Depression damaged farms, where did many farmers go?

• They moved to the Southeast to the ocean.

• They moved to California to work as day laborers.

• They moved to Canada to get away from the country.

True or false: The Great Depression of the 1930s only impacted the United States.

• True

• False

What was the New Deal?

• Programs set up by the president to fix the U.S. economy

• Deals made with other countries to borrow money

• Programs set up with China to send us goods for free