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Chapter 22 Section 1 and 2

Chapter 22 Section 1 and 2. The Stock Market Crash and Social Effects of the Depression. Dow Jones Industrial Average. An average of the stock prices of major industries Reached an all time high during Hoover’s Presidency People paid a great deal to the rising stock market. Black Tuesday.

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Chapter 22 Section 1 and 2

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  1. Chapter 22 Section 1 and 2 The Stock Market Crash and Social Effects of the Depression

  2. Dow Jones Industrial Average • An average of the stock prices of major industries • Reached an all time high during Hoover’s Presidency • People paid a great deal to the rising stock market

  3. Black Tuesday • October 29, 1929 • 16.4 million shares were sold • Compared to an average of 4 to 8 million

  4. Great Crash • The massive collapse of the stock market in 1929 • Overall losses totaled $30 billion

  5. List and briefly describe 5 ways the Great Crash spread to all Americans. • Risky loans hurt banks • Consumer borrowing- took out loans and could no longer pay them back • Bank runs • Bank failures • Savings wiped out • Cuts in production • Rise in unemployment

  6. Business Cycle • Over a period of time, the economy grows, then contracts

  7. Great Depression • Time period from 1929 to 1941 • The most severe economic downturn in American history

  8. Which part of the business cycle did the Great Depression represent? • A trough

  9. How did the unstable economy in the 1920s contribute to the Great Depression? • Production far outpaced demand • Wealth was unevenly distributed • The boom in stock market prices was based mainly on borrowed money, not real value

  10. List and briefly describe the 3 underlying causes of the Depression. • An unstable economy • Overspeculation • Government policies- limited money supply to discourage lending and speculation, but this left people short on money

  11. Hooverville • Towns of shacks, or shanties, made from anything people could use to construct a shelter

  12. Who lived in Hoovervilles? • Unemployed laborers and their families

  13. Dust Bowl • Massive dust storm that consumed the midwest

  14. What factors led to the creation of the Dust Bowl in the 1930s? • Exhaustion of the topsoil • Drought • Wind erosion

  15. What impact did the Depression have on health? • Many went hungry • Children suffered from poor diet and inadequate medical care

  16. How did the Great Depression impact families? • Living condition declined • Had to give up personal interests/hobbies • Many men were ashamed and left their families • Women lost jobs

  17. What were some causes and effects of increased discrimination during the Great Depression? • Competition for jobs • Legal system ignored civil rights for non-whites • Individual racism • Deportations • Lynchings • High African American unemployment

  18. What can you learn about the Depression from Wilson Ledford’s experiences? • His experiences demonstrate the hardships of finding work, which was often only temporary or was located far from home • He and his family made the best of the situation in order to survive

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