Great Depression Part 1 Review

Directions: Under each complete the phrase, answer the question, fill in the blank, or define the definition.

How did Herbert Hoover win the election of 1828? He won the elections by accomplishments and with optimism over the economy

What things were going on in the 20’s that lead to the Great Depression? Farmers had increased in WW1 which meant new land and equipment and that resulted bringing debt into the 20’s. The farmers couldn’t pay their debt and unable to bring new supplies

What was Black Tuesday? How did it happen?
The stock market crashed and Americans lost billions of dollars and they lost everything they had.
Stock market was based on confidence with people spending money they didn’t have into stock speculation

What effects did Black Tuesday have on the US?
Stocks drop and decrease in consumer spending and unemployment went up.

How did the Depression spread globally?
Reparation payments, War Debt Payments, and imbalance of trade had already created shaky economic structure

Bell Ringer:
why might americans have invested their money in stocks instead of putting it into siving? becuase back in the old 1930's If you put your money in a stock then in a couple of years when you take it out of the stock its worth a lot of money. more than what you put in it before.