Great Depression classwork

Which of the following statements best describes what happened on Black Tuesday?

• Stock prices fell and the stock market crashed.
• Bank runs forced many banks to close their doors.
• Federal troops attacked the Bonus Army marchers.
• The Supreme Court ruled that the NRA was unconstitutional.

This is the process of taking money borrowed from the bank or a broker, and putting it into the stock market

• Buying on Margin 
• Speculation 
• Buying on Credit 
• Overconsumption 

This is the idea that the rich become richer, while the poor become poorer

• Black Tuesday 
• Speculation 
• Unequal distribution of wealth
• Buying on Credit 

When a large number of customers line up to withdraw cash from deposit accounts from a financial institution

• Speculation 
• Black Friday 
• Bank Run 
• Underconsumption 

This cause led many businesses to close, because they were producing more goods than consumers were willing to buy.

• Overproduction 
• Underconsumption 
• Buying on Credit 
• Stock Speculation 

When companies produce too much of a product & can't sell it:

• Underconsumption

• Overproduction

• Regulations

Environmental disaster that hit farmers on the great plains; Large dust storms made it impossible to farm:

• Great Migration

• 1930s Wind Storms

• Dust Bowl

 Define The Great Depression

• Loan given to help you buy items you normally cannot buy on your own.
• homeless person who travels looking for work.
• The time in American history when the U.S. was at it's lowest point.

What was President Herbert Hoover's response to the Great Depression?

• He believed "rugged individualism" would solve the economy

• He created mass welfare

• He increased infrastructure to create jobs

• He violated his policy of laissez-faire

Why did many midwestern farmers migrate from the Great Plains to California?

• There was no unemployment on the West Coast

• California was experiencing a gold rush

• The Dust Bowl pushed farmers out of the Great Plains

• The Stock Market crash led farmers to lose their homes on the Great Plains