Flashcards
L16 - The Great Depression
Cards in this deck (3)
- 1How is the Great Depression different from other declines? (2)1. It was more severe
2. It was longer - 2What were some causes of the Great Depression? (5)1. Investments in stocks - buying on margin
2. weakness in the banking system
3. high tariffs
4. war reparations
5. overproduction/underconsumption - 3What was the impact on the American economy? (4)1. After 1929 peak, industrial production dropped over 60%
2. in 1932, unemployment rate over 24%
3. mass bank failures 1930 - 1933 and collapse of credit and money supply
4. deflation ; prices fell by 20 to 30%