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Questions and Answers
Which of the following was a significant cause of the Great Depression related to consumer behavior?
Which of the following was a significant cause of the Great Depression related to consumer behavior?
What term describes a car pulled by horses during the Great Depression due to high gas prices?
What term describes a car pulled by horses during the Great Depression due to high gas prices?
What factor contributed to the overproduction and overexpansion prior to the Great Depression?
What factor contributed to the overproduction and overexpansion prior to the Great Depression?
Which of these was NOT a type of living condition that emerged during the Great Depression?
Which of these was NOT a type of living condition that emerged during the Great Depression?
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Which of the following relates to Canada's economic dependency issues that worsened the Great Depression?
Which of the following relates to Canada's economic dependency issues that worsened the Great Depression?
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What was a significant impact of high tariffs on international trade during the Great Depression?
What was a significant impact of high tariffs on international trade during the Great Depression?
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What does the term 'Bennett coffee' refer to during the Depression era?
What does the term 'Bennett coffee' refer to during the Depression era?
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What systemic issue in economics contributed to the shift from prosperity to depression?
What systemic issue in economics contributed to the shift from prosperity to depression?
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What primarily aided in curing the depression during World War II?
What primarily aided in curing the depression during World War II?
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Which event is associated with the significant economic changes during the depression?
Which event is associated with the significant economic changes during the depression?
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How did the government plan to balance wealth distribution according to the noted policies?
How did the government plan to balance wealth distribution according to the noted policies?
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What was a major outcome for millions of men and women during the economic shift caused by World War II?
What was a major outcome for millions of men and women during the economic shift caused by World War II?
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Which statement best describes the political spectrum related to the depression era?
Which statement best describes the political spectrum related to the depression era?
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Which of the following was likely NOT a belief held during the depression era?
Which of the following was likely NOT a belief held during the depression era?
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What does the term 'Social Gospel' imply in the context of this era?
What does the term 'Social Gospel' imply in the context of this era?
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Which action was NOT part of Bennett's strategies during the depression?
Which action was NOT part of Bennett's strategies during the depression?
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Study Notes
1930s AP History Study Guide
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Overproduction and Overexpansion:
- Agriculture and industry production reached high levels in the 1920s.
- Factories added to capacity, creating massive supplies of goods.
- Goods stockpiled in warehouses due to low consumer purchasing power.
- Factories reduced production, leading to layoffs and further economic downturn.
- Canada overproduced houses in Toronto (43%) and Los Angeles (9%).
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Canada's Dependence on Primary Products:
- Canada's economy heavily relied on a limited number of staple products (wheat, fish, minerals, pulp and paper, oil).
- Strong world demand for these resulted in economic prosperity.
- Surplus of goods and decreased foreign demand negatively impacted Canada's economy.
- Maritime provinces (fishing) and western provinces (wheat) were particularly vulnerable to fluctuations in demand.
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Canada's Dependence on the US:
- Canada relied on the US for 65% of its imports.
- 40% of exports went to the US.
- The US was Canada's largest trading partner and primary source of investment funds.
- The worsening economic conditions in the US had a severe impact on Canada's economy.
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High Tariffs Choked International Trade:
- Europe struggled to recover after World War I.
- European demand for goods was hampered by significant debt.
- Many adopted protectionist policies, imposing high tariffs on foreign goods.
- This hindered global trade significantly.
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Too Much Credit Buying:
- Easy access to credit led to widespread consumer debt.
- Canadians bought goods with small down payments and high monthly interest.
- Often, the cost of goods exceeded the value.
- Defaults and repossessions became common during the depression.
- Stock market investments were also bought on margin, leading to risky debt and financial ruin when values decreased.
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October 1929 Stock Market Crash:
- Stock prices rapidly decreased in October 1929.
- Investors panicked and sold their shares.
- Millions in value lost through stock plummeting.
- Deepening economic crisis led to the Great Depression.
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Economic Prosperity (Pre-1929):
- Post-World War I, increased consumer incomes allowed for higher spending.
- Mass production techniques lowered manufacturing costs and increased accessible goods.
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Depression Characteristics (Post-1929):
- Decreased demand for goods.
- Reduced production.
- Fewer sales.
- High unemployment.
- Loss of profit.
- Reduced purchasing power.
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Canadian Prime Ministers (1930s):
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R.B. Bennett:
- Faced criticism for ineffective response to the Great Depression.
- Believed in fiscal conservatism with little interventionist strategies, including limited social welfare programs.
- Introduced unemployment relief camps.
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Mackenzie King:
- Elected after Bennett, focused on gradual economic and social reform.
- Reluctant to intervene initially but later implemented public works programs and social welfare reforms.
- Supported creating the Bank of Canada to stabilize the economy.
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R.B. Bennett:
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Description
This quiz covers key concepts regarding economic factors in the 1930s, focusing on overproduction, Canada's reliance on primary products, and economic ties to the US. Understand the impacts these factors had on the economy during this critical period in history. Prepare to explore how these elements contributed to the broader context of the Great Depression.
