USA: End of prosperity

Which of the following were long term causes of the bust?

• Overproduction

• Falling demand

• Boom in land and property prices

• Uneven distribution of wealth

• WWI

How many Americans had an income of less than $2,000 a year?

• 20%

• 40%

• 50%

• 60%

What problems did overproduction cause? Pick all relevant answers.

• Factories produced more goods than Americans could buy

• America could not sell goods abroad because their goods were taxed

• Americans bought lots of consumer goods

• It made goods really expensive

Protectionism meant that all American exports were heavily (a)   by the country they were selling to.

Many Americans bought property at a high price and then it became worth much less. What is this known as?

• Overspeculation

• Mortgage

• Easy credit

• Negative equity

Which of the following had not benefited from the boom?

• Black Americans

• Immigrants

• Catholics

• Farmers

• Coal miners

Which of the following were short term causes of the bust?

• Overproduction

• Over-speculation on the stock market

• Availability of east credit

• Falling demand

• Panic selling

If people bought things on credit it meant that they bought now and ____ _____.

(a)  

On 24th October 1929, 13 million shares were sold. What is it known as?

• Black Tuesday

• Black Wednesday

• Black Thursday

• Black Friday

The worst day of trading was 29th October, when 16.5 million shares were sold. It was known as Black (a)   .