26.5

What does the “middle way” refer to regarding the Great Depression?
The “middle way” was how Scandinavian countries handled the Great Depression. They found a path between sick capitalism and cruel communism or fascism.

What were the main causes of the stock market crash of October 1929?
The stock market crash was caused by over-speculation, and buying on margin which caused mass selling of stocks.

What did FDR’s National Recovery Administration attempt to do?
The NRA was intended to reduce competition among industries by setting minimum prices and wages. This was declared unconstitutional by the Supreme Court.

What did the Swedish response to the Depression involve?
The Swedish response to the Great Depression included the use of large-scale deficits to finance public works and thereby maintain production and employment.

How do you account for the Great Depression not hitting Britain as hard as the U.S. or Germany?
In Britain protective tariffs were established and their focus was on national rather than international markets. Britain lacked the economic boom prior to the crash, so that lessened the blow for Britain.

Why did Britain’s abandonment of the gold standard not aid its recovery?
Britain’s abandonment of the gold standard did not aid its recovery because so many other countries did the same, so Britain didn’t gain the advantage they were hoping for.

Why was the Great Depression slow to affect France?
The Great Depression came late in France because they were less industrialized and they were isolated from the world economy.

What is “buying on margin”…how is that reflected in this history?
Buying on margin was like taking out a loan for a stock. When the stocks started falling, people who bought on margin had to pay for the rest of original cost of the stock, or they could sell it. This lead to the mass selling of stocks that caused its crash.

What did the Popular Front do after its 1936 victory in France?
Communists heavily dominated the parliament, and the socialists were the strongest party in France. Blum launched a social reform program that had paid vacations and a 40 hour workweek. This was supported by the middle and lower classes, but inflation and accusations prevented this plan from happening.

What did orthodox economists believe in the 1930s regarding economic growth?
Orthodox economists believed a balanced budget was the key to economic growth.

Compare the bombing of London and the Holocaust (Axis) to the bombing of Dresden and Hiroshima/Nagasaki (Allies). Describe each and note how they are similar and different The bombing in london and the holocaust, was the results of the tyranny …

overproduction During the 1920s, the wealthy grew wealthier due in large measure to government fiscal policies that both reduced business regulations and allowed the wealthy to keep more of their money. These reduced regulations and low corporate taxes increased the …

Herbert Hoover The head of the US food administration during WWI and became President in 1929 prior to the Depression speculation Risky buying and selling of stocks in the hope of making a quick profit WE WILL WRITE A CUSTOM …

1.What was the Dawes Plan and how is it important to this history? 1. The Dawes Plan was a war reparations agreement that was accepted by France, Germany, and Britain. It reduced Germany’s yearly payments, made payment dependent on economic …

Gross National Product the total value of goods and services produced in percent Herbert Hoover an candidate leader that had build an outstanding reputation as a businesslike administrator that guide the prosperous nation, supervise America’s food production during WWI and …

Which of the following was NOT a cause of the Great Depression? Black market production and sale of alcohol during Prohibition What was one of the major problems of the 1920s? Americans were overspending while buying on credit WE WILL …

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