The Causes of the Great Depression
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Questions and Answers

Why did workers in old industries like coal not share in the prosperity of the 1920s?

  • Lack of government support
  • Decrease in demand for coal because of oil (correct)
  • Due to competition from other industries
  • High taxes on coal production
  • What was a significant weakness in the US economy during the 1920s?

  • Tax policies favoring the working class
  • Unequal distribution of wealth (correct)
  • More demand for agricultural products
  • Overproduction of consumer goods
  • What was one of the problems faced by farmers during the 1920s boom?

  • Government subsidies encouraging surplus production
  • Ease of selling surplus abroad
  • Increased demand for agricultural products
  • Overproduction leading to falling prices (correct)
  • What was the impact of retaliatory tariff on farmers during the 1920s?

    <p>Made it difficult to sell any surplus abroad</p> Signup and view all the answers

    What contributed to the increasing amount of debt in America during the 1920s?

    <p>Purchase of consumer goods on credit</p> Signup and view all the answers

    Why did many Americans, such as farmers and agricultural workers, not prosper during the boom?

    <p>Overproduction and falling prices</p> Signup and view all the answers

    How did the decline in demand for consumer goods affect the US economy in the 1920s?

    <p>Caused financial strain on businesses producing consumer goods</p> Signup and view all the answers

    What percentage of American homes had electricity by 1927?

    <p>63%</p> Signup and view all the answers

    What was a major consequence of overproduction by American industries and businesses during the 1920s?

    <p>Decline in demand for consumer goods</p> Signup and view all the answers

    What was the impact of the laissez-faire policy on the economy?

    <p>It meant there was no regulation and insufficient safeguards in the economy.</p> Signup and view all the answers

    What was the impact of the stock market crash on shareholders and speculators?

    <p>They lost billions of dollars.</p> Signup and view all the answers

    How did foreign governments respond to US tariffs on their goods?

    <p>They imposed retaliatory tariffs on US goods in response.</p> Signup and view all the answers

    What contributed to the decrease in business profits during the 1920s?

    <p>Rise of speculation and unrealistic share prices.</p> Signup and view all the answers

    What was the term used for the day when nearly 13 million shares were sold on the Wall Street stock exchange?

    <p>'Black Thursday'</p> Signup and view all the answers

    What was a major limitation on exporting surplus goods abroad for US businesses?

    <p>Foreign governments imposing tariffs on US goods.</p> Signup and view all the answers

    How did banks become involved in speculation on the stock market?

    <p>By using public savings to invest in shares.</p> Signup and view all the answers

    What was a significant effect of the Great Depression on industrial production and prices?

    <p>A steep decline in industrial production and prices</p> Signup and view all the answers

    In the United States, during the Great Depression, how much did industrial production fall between 1929 and 1933?

    <p>Approximately 47%</p> Signup and view all the answers

    What was a major factor contributing to the Great Depression according to many scholars?

    <p>The stock market crash of 1929</p> Signup and view all the answers

    What was the impact of the Great Depression on unemployment in the United States?

    <p>Unemployment reached more than 20%</p> Signup and view all the answers

    What was a major consequence of the stock market crash in October 1929?

    <p>Banking panics</p> Signup and view all the answers

    What action did the Parlement take in response to Brienne's attempt to enforce the proposal with a 'lit de justice'?

    <p>They demanded an Estates General.</p> Signup and view all the answers

    What was the significance of the Paris residence, Palais Royal, during this period?

    <p>It became the center of revolutionary activity.</p> Signup and view all the answers

    What resulted from Louis' attempts to force through reforms with a Royal Session?

    <p>Obstruction by the Duc d’Orleans.</p> Signup and view all the answers

    What was the outcome of Paris Parlement's May 1788 'Issued' statement?

    <p>The King didn’t have the authority to make changes; only an Estates General could.</p> Signup and view all the answers

    What did the Royal Court plan to do to end the power of the Paris Parlement?

    <p>Replace it with a new plenary court of nobles appointed by the King.</p> Signup and view all the answers

    What led to 3 months of political violence known as the Revolt of the Nobles?

    <p>Arrests and drawing up of the May Edicts.</p> Signup and view all the answers

    What did Necker's recall symbolize during this period?

    <p>The resolution of the impasse and restoration of confidence.</p> Signup and view all the answers

    What did the Assembly of Notables decide on regarding the method of debate for the estates?

    <p>Debate should be conducted separately by order.</p> Signup and view all the answers

    What led to widespread riots and civil unrest during this period?

    <p>'Don gratuit' offered by the Church.</p> Signup and view all the answers

    What resulted in Louis being forced to submit to agreeing to an Estates General for 1789?

    <p>'Bankruptcy' declared in August 1788.</p> Signup and view all the answers

    What was the response of the clergy to the proposed reforms by Calonne?

    <p>They opposed the plans to tax the church.</p> Signup and view all the answers

    Why did the Notables feel offended by Calonne's actions?

    <p>They felt he was disregarding the ideas of the enlightenment.</p> Signup and view all the answers

    What did Calonne propose to do with the corvee royal?

    <p>Convert it into a tax.</p> Signup and view all the answers

    What did Calonne propose in relation to the Estates general?

    <p>Support for convening an Estates general.</p> Signup and view all the answers

    Why was Calonne dismissed by Louis in April 1787?

    <p>Under pressure from Marie Antoinette who favored Brienne.</p> Signup and view all the answers

    What did Brienne attempt to register despite opposition from the Parlements?

    <p>A land tax.</p> Signup and view all the answers

    What was Calonne's response when the Assembly of Notables was not convinced of the financial situation's desperation?

    <p>He criticized the Notables for allowing 'self-interest' to stand in the way of reform.</p> Signup and view all the answers

    What did Calonne propose regarding protestants?

    <p>Greater toleration of protestants.</p> Signup and view all the answers

    Why did many Notables dislike Calonne's manner of implementing reforms?

    <p>They saw it as an example of 'ministerial despotism'.</p> Signup and view all the answers

    What was the response of Marie Antoinette towards Calonne's dismissal?

    <p>She favored Brienne as a replacement for Calonne.</p> Signup and view all the answers

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