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Questions and Answers
What was one of the long-term causes of the Great Depression?
What was one of the long-term causes of the Great Depression?
- Reduction in international trade
- Speculative trading and inflated stock prices
- Rapid industrialization and technological advancements (correct)
- Bank failures and collapse of the financial system
What contributed to economic instability during the 1920s?
What contributed to economic instability during the 1920s?
- Bank failures and collapse of the financial system
- Rapid industrialization and technological advancements
- Speculative trading and inflated stock prices
- Overproduction and falling prices (correct)
What led to a surplus of goods in industries before the Great Depression?
What led to a surplus of goods in industries before the Great Depression?
- Bank failures
- Overproduction (correct)
- Rapid industrialization
- Speculative trading
What was a consequence of the Smoot-Hawley Tariff of 1930?
What was a consequence of the Smoot-Hawley Tariff of 1930?
What caused the banking sector to face instability before the Great Depression?
What caused the banking sector to face instability before the Great Depression?
Which factor contributed most significantly to the economic instability during the 1920s?
Which factor contributed most significantly to the economic instability during the 1920s?
What was the primary cause of the collapse of the financial system before the Great Depression?
What was the primary cause of the collapse of the financial system before the Great Depression?
What was the main consequence of the Smoot-Hawley Tariff of 1930?
What was the main consequence of the Smoot-Hawley Tariff of 1930?
Which long-term factor widened the gap between the rich and the poor during the 1920s?
Which long-term factor widened the gap between the rich and the poor during the 1920s?
What led to a surplus of goods in industries before the Great Depression?
What led to a surplus of goods in industries before the Great Depression?
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Study Notes
Causes of the Great Depression
- One of the long-term causes of the Great Depression was a significant gap between the rich and the poor during the 1920s, leading to reduced purchasing power among the masses.
Economic Instability in the 1920s
- Overproduction and underconsumption contributed to economic instability during the 1920s, leading to a surplus of goods in industries before the Great Depression.
Smoot-Hawley Tariff Consequences
- The Smoot-Hawley Tariff of 1930 led to retaliatory measures from other countries, reducing international trade and exacerbating economic instability.
Banking Sector Instability
- Weak banking regulations and inadequate supervision caused the banking sector to face instability before the Great Depression.
Primary Causes of Economic Instability
- The primary cause of economic instability during the 1920s was the unequal distribution of wealth, leading to reduced purchasing power and underconsumption.
Collapse of the Financial System
- The primary cause of the collapse of the financial system before the Great Depression was the combination of overproduction, underconsumption, and inadequate banking regulations.
Main Consequences of Smoot-Hawley Tariff
- The main consequence of the Smoot-Hawley Tariff of 1930 was a significant decline in international trade, leading to a cascade of economic problems.
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