Chapter 14 review worksheet (2)

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Name: ______________________ Date: _______________________ Period: ______________________ Chapter 14 Review Worksheet OGT Section Page Person, Place, Date, Term Description 14.1 465 McNary-Haugen Bill 14.1 465 price-supports 14.1 465 What industrial weakness signaled a declining economy in the 1920s? The older industries such as textiles, steel, and railroads, which were basic to the fundamental well-being of the economy, were barely profitable. 14.1 465 What factors contributed to the superficial prosperity of the 1920s? Consumer goods were available in abundance. Farmers had been buying more land and more farm equipment and producing more and more goods for market. Credit was easy to get. The stock market was booming, and average people were able to invest in the stock market. People used credit to obtain higher standards of living than before. Politicians, such as President Herbert Hoover, declared that the economy was doing extremely well. 14.1 465 — N/A One of great ironies of the Depression: What existed despite farmer surpluses? starvation 14.1 465 — N/A under-consumption the failure to purchase goods; many goods were being produced but the low wages caused an insufficient purchasing power to support the nation’s mass -production industries 14.1 466 Al Smith 14.1 466 installment buying plans 14.1 466 What did the experience of farms and consumers at this time suggest about the health of the economy? Beneath the surface prosperity of the 1920s, the economy was in trouble. 14.1 466 — N/A Wickersham Commission recommended that Prohibition continue; the 11 members of the commission disagreed among themselves on whether Prohibition should continue; most felt that the “noble experiment” was ineffective and promoted crime, yet the commission as a whole recommended that prohibition be continued 14.1 467 Bull Market 14.1 467 Buying on Margin 14.1 467 Dow Jones Industrial Average 14.1 467 How did speculation and margin buying cause stock prices to rise? They caused over investment as people ignored the risks and bought more than they could pay for. 14.1 467 speculation 14.1 467 — N/A Bear Market when economy is doing poorly (prices of stocks as a group are falling or have fallen) 14.1 467 — N/A securities stocks and bonds 14.1 467 — N/A sole proprietorship if you start a business (buy the building, equipment, etc.) by yourself with your own money 14.1 467 — N/A What is it called when a company first sells its stock to the public? (IPO) initial public offering 14.1 467 — N/A What represents a stockholders share in a company’s profit? dividends KeNyia Young 11/28/23 2 The McNary-Haugen Bill was a proposed law in the United States that aimed to provide federal price support to farmers by buying their crops and selling them abroad. It was introduced in 1924 but failed to pass in Congress. Price supports are government policies that aim to maintain or increase the price of a particular commodity or product, often by buying up excess supply. Al Smith was an American politician who served as the Governor of New York from 1919 to 1920 and again from 1923 to 1928. He was also the Democratic Party's nominee for President in the 1928 election, but lost to Republican Herbert Hoover. Installment buying plans are a type of credit arrangement in which a consumer purchases a product and pays for it over time in a series of regular payments, often with interest. A bull market is a period of rising stock prices and general optimism about the future of the economy. The 1920s in the United States were characterized by a long and sustained bull market, fueled in part by the growth of new industries such as automobiles and radio. Buying on margin is a type of investment strategy in which an investor borrows money from a broker to purchase stocks or other securities. This allows the investor to buy more shares than they would be able to with their own funds, potentially increasing their profits. The Dow Jones Industrial Average, often referred to as simply the Dow, is a stock market index that tracks the performance of 30 large publicly traded companies in the United States. Speculation refers to the practice of buying and selling assets, such as stocks, with the goal of making a profit from short-term price fluctuations. Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

2 14.1 467 — N/A Who had loaned money to brokerage houses and went bankrupt when they failed to get paid back? banks 14.1 468 Black Tuesday 14.1 469 Banks failed because: 14.1 469 European countries could not repay U.S. because: 14.1 469 What happened to ordinary workers during the Great Depression? Many were out of a job. Others experience pay cuts and reduced hours. 14.1 471 Causes of the Great Depression 14.1 471 Discuss the causes of the Great Depression The factors that caused the Great Depression included overproduction of consumer goods, under consumption of consumer spending, which in turn led to a slower increase in wages than in business and corporate profits. This led to insufficient purchasing power to support the nation’s industries. A prolonged slump in agriculture was another factor that contributed to the economic decline. AND BUYING ON MARGIN, TARIFF AND TAXES, INSTALLMENT BUYING, SPECULATION, REPARATINOS. 14.1 471 Hawley-Smoot Tariff 14.1 471 How did the Great Depression affect the world economy? World trade dropped, causing unemployment to rise globally. 14.2 473 Bread Line 14.2 473 Hoovervilles 14.2 473 How did the Great Depression affect minorities? African Americans and Latinos suffered from unemployment, low pay, and racial violence. 14.2 473 Soup Kitchen 14.2 473 — N/A Describe the conditions of industrial workers in the early 1930s As a result of lower demand for consumer products and the materials needed to build them, many Americans lost their jobs and still more had their hours reduced. Industries cut wages, and in cities throughout the country, bread lines and soup kitchens appeared as local governments and charities tried to feed the poor. Families who could not pay their rent or make the mortgage payments were evicted from their homes, resulting in homelessness. Hunger riots sometimes occurred as people smashed into grocery stores attempting to take whatever food they could. 14.2 473 — N/A During the depression, many unemployed people sold what? apples 14.2 474 Dust Bowl 14.2 474 Okies (Exodusters) Farm families who migrated to Pacific Coast states in search of work following the loss of their crop because of the Dust Bowl, the name originated from original migrating families form Oklahoma. 14.2 474 — N/A Dorothea Lange photographer who documented the lives of migrant workers 14.2 475 Direct Relief Black Tuesday" refers to October 29, 1929, when the stock market crashed, leading to the Great Depression in the United States. The crash was caused by a variety of factors, including speculation, buying on margin, and overproduction in agriculture and manufacturing. Banks failed during the Great Depression due to a variety of factors, including the stock market crash of 1929, which led to a decrease in the value of securities held by banks. Additionally, many banks had invested heavily in the stock market, and when the market crashed, they suffered significant losses. these countries were unable to repay their debts due to a variety of factors. Firstly, the global economic downturn led to a decrease in international trade, which affected the ability of countries to earn foreign currency. Secondly, the high tariffs imposed by the United States on imported goods made it more difficult for European countries to sell their goods in the American market, further reducing their ability to earn foreign currency. The Great Depression was a severe economic downturn that occurred worldwide in the 1930s, lasting for almost a decade. It was caused by a variety of factors, including the stock market crash of 1929, a decrease in consumer spending, a decline in industrial production, and a decrease in international trade. The Hawley-Smoot Tariff, also known as the Tariff Act of 1930, was a protectionist trade policy implemented by the United States government in an attempt to protect American businesses from foreign competition during the Great Depression. During the Great Depression, many people in the United States were unable to find work and struggled to feed themselves and their families. As a result, bread lines became a common sight in cities across the country. A bread line was a line of people waiting to receive free or low-cost food, typically bread, from charities or government agencies. During the Great Depression, many people in the United States lost their jobs and homes and were forced to live in makeshift communities known as Hoovervilles. These communities were named after President Herbert Hoover, who was widely blamed for the economic crisis. The soup kitchen is a charitable organization that provides meals to indiv need. The organization relies on donations of food and funds from comm organizations in order to operate. The Dust Bowl was a period of severe dust storms and soil erosion that occurred in the Great Plains region of the United States during the 1930s. The severe weather conditions resulted in crop failures, which led to widespread hunger and poverty among farmers and their families. Direct Relief provided food, medical supplies, and other essential resources to families in need, and it helped to alleviate some of the suffering that occurred during this difficult time. Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

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