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Questions and Answers
What were the overall effects of the Great Depression?
What were the overall effects of the Great Depression?
High unemployment, poverty, low profits, deflation, plunging farm incomes, lost opportunities for economic growth and personal advancement.
Which of the following were statistics related to the Great Depression? (Select all that apply)
Which of the following were statistics related to the Great Depression? (Select all that apply)
How did the Great Depression change Americans' beliefs about government?
How did the Great Depression change Americans' beliefs about government?
Americans began to demand that the government take action to end the Depression and support new laws and programs.
Most Americans trusted banks during the Great Depression.
Most Americans trusted banks during the Great Depression.
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What was one reason for ending Prohibition during the Great Depression?
What was one reason for ending Prohibition during the Great Depression?
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What were Hoovervilles?
What were Hoovervilles?
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Did the effects of the Great Depression extend beyond the United States?
Did the effects of the Great Depression extend beyond the United States?
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What was the impact of the Great Depression on national debt?
What was the impact of the Great Depression on national debt?
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How did migration patterns change during the Great Depression?
How did migration patterns change during the Great Depression?
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What effect did the Great Depression have on family life?
What effect did the Great Depression have on family life?
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Did the Great Depression affect all Americans equally?
Did the Great Depression affect all Americans equally?
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Study Notes
Overall Effects of the Great Depression
- High unemployment, poverty, low profits, and deflation characterized the era.
- Farm incomes plummeted, leading to widespread economic hardship and lost opportunities for advancement.
- The interconnectedness of the US economy was starkly revealed during this period.
Great Depression Statistics
- 50% of all US banks failed.
- US economy contracted by 50%.
- The unemployment rate soared to 25%.
- Housing prices fell by 30%.
- International trade decreased by 65%.
- Prices of manufactured goods dropped by 10% annually.
- Wages for American workers fell by 42%.
- Homelessness surged dramatically.
Effect on Government
- Shift in American beliefs about government roles occurred, moving from laissez-faire capitalism to increased governmental intervention.
- Citizens began blaming the government for the economic crisis and demanded active measures for relief.
- Emergence of politicians advocating for new laws and regulatory programs aimed at preventing future economic disasters.
Effect on Banking Industry
- Trust in banks eroded significantly due to bank failures and mismanagement of depositors' funds.
- Many people avoided banks altogether, fearing further losses.
The End of Prohibition
- Prohibition was repealed partly to aid farmers by allowing them to sell crops for alcohol production.
- The government sought to generate tax revenue through alcohol sales to fund national recovery efforts.
Hoovervilles
- Homeless populations constructed makeshift shantytowns called Hoovervilles, named after President Herbert Hoover.
- These shanties were built from salvaged materials like cardboard, tin, and lumber.
International Effects
- The Great Depression's impacts extended beyond the US, worsening existing economic troubles in war-torn European nations.
- A global economic crisis developed as American economic woes spread internationally.
National Debt
- The US government increased its spending significantly in attempts to combat the Depression without raising taxes.
- This led to a substantial accumulation of national debt.
Effect on Migration Patterns
- The devastation of the farming industry forced many displaced former farmers to migrate in search of work, particularly to California and urban centers.
- Population decline in rural Southern and Midwestern states resulted as families sought jobs in more populated areas.
Effect on Family Life
- The economic pressures led to feelings of shame among fathers unable to support their families, with some abandoning their families.
- Mothers often took on multiple jobs to help sustain the household.
- Families faced various outcomes: some grew closer through adversity, while others broke apart, amplifying feelings of loneliness.
Effect on Minorities
- While all demographics experienced hardship, minority groups, especially African Americans, faced disproportionately severe consequences during the Great Depression.
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Description
Explore the profound impacts of the Great Depression through these flashcards. This quiz covers the overall effects on employment, poverty, and economic growth during this historical period in America. Perfect for students looking to understand this critical event in U.S. history.
