Economic Downturn Of America! Trivia Facts

The Great Depression refers to a period of severe economic decline and high unemployment that occurred between 1929 and 1941. It was characterized by a stock market crash, bank failures, and a decline in international trade. The Great Depression had a significant impact on the global economy, leading to widespread poverty and hardship for many individuals and families. It is considered one of the most challenging economic periods in history.

During the Great Depression, many homeless people grouped together to build Hoovervilles, or makeshift shantytowns of tents and shacks. This term was coined to criticize President Herbert Hoover for his perceived failure to address the economic crisis. The Hoovervilles were a symbol of the widespread poverty and homelessness that characterized the era, and they served as a desperate attempt by the unemployed and homeless to find shelter and community in the midst of the economic turmoil.

The correct answer is Hoover Dam because it was a large public works project that provided employment opportunities in the Southwest during the early 1930s. The construction of the dam created jobs for thousands of workers and helped stimulate the local economy. The Hoover Dam was built on the Colorado River between Arizona and Nevada, and it remains an important source of hydroelectric power and water supply for the region.

The correct answer is Bonus Army. During the Great Depression, a group of World War I veterans, known as the Bonus Army, marched on Washington DC to demand the immediate payment of the bonus that Congress had promised them for their service. They camped in makeshift shelters and protested peacefully, but their demands were not met. Eventually, President Herbert Hoover ordered the military to disperse the protesters, leading to a violent clash and the eviction of the Bonus Army from the city.

Tenant farmers are individuals who live and work on land that is owned by someone else. They typically pay rent to the landowner in exchange for the right to cultivate and harvest crops on the land. This arrangement allows the landowner to benefit from the productivity of the land while the tenant farmer gains access to land for agricultural purposes.

Impoverished people in cities often waited in bread lines to obtain free food from charities and public agencies. Bread lines were a common occurrence during times of economic hardship, such as the Great Depression, when many people were unable to afford basic necessities like food. These lines were organized by charities or government agencies and provided a way for those in need to receive assistance.

The correct answer is the Hawley-Smoot Tariff. This tariff was passed in 1930 and imposed high taxes on foreign products imported into the United States. It was intended to protect American industries from foreign competition and stimulate domestic production. However, it ultimately backfired as other countries retaliated with their own tariffs, leading to a decrease in international trade and worsening the Great Depression.

Douglas MacArthur is the correct answer because he was the General who ordered federal troops to fire tear gas on protestors in Washington DC. He is known for his controversial actions during the Bonus Army protest in 1932, when he led troops to forcibly remove World War I veterans who were demanding their bonuses. MacArthur's decision to use tear gas and force against the protestors was highly criticized at the time.

The Dust Bowl caused hundreds of thousands of people to migrate from the Great Plains. The Dust Bowl was a severe drought and dust storm that occurred in the 1930s, primarily in the central United States. The combination of drought, poor farming practices, and strong winds led to massive dust storms that destroyed crops, killed livestock, and made the land uninhabitable. As a result, many farmers and their families were forced to leave their homes and search for work and better living conditions elsewhere, leading to a significant migration from the affected areas.

Trickle Down Economics is the theory that if money is given to the wealthy and businesses, it will eventually "trickle down" to benefit those at the bottom of the economic pyramid. This theory suggests that by stimulating economic growth at the top, it will lead to job creation, increased wages, and overall prosperity for everyone. However, critics argue that this theory often leads to income inequality and fails to address the needs of the most vulnerable members of society.

The correct answer is the Reconstruction Finance Corporation. The Reconstruction Finance Corporation was established by Congress in 1932 with the aim of providing government loans to railroads, businesses, and banks in order to stimulate economic recovery. This initiative was part of the government's efforts to combat the effects of the Great Depression and help revive the struggling economy. By providing financial assistance to various sectors, the Reconstruction Finance Corporation sought to stabilize and strengthen the country's financial system and promote economic growth.

During the Great Depression in the 1930s, severe drought and poor farming practices led to the Dust Bowl in the Great Plains. As a result, many farmers and families were forced to leave their homes and migrate westward in search of employment and better living conditions. These migrants, often from Oklahoma, were derogatorily referred to as "Okies." This term became synonymous with the Dust Bowl refugees who headed west to find work and escape the harsh conditions in the Great Plains.

The correct answer is Business Cycle. The business cycle refers to the recurring pattern of expansion and contraction in the economy. It is characterized by periods of economic growth, known as expansions, followed by periods of economic decline, known as contractions or recessions. These cycles are a natural part of a capitalist economy and are influenced by various factors such as changes in consumer spending, investment, and government policies. The business cycle is important for understanding the overall health and performance of the economy.

Black Tuesday is the correct answer because it refers to the specific day, October 29, 1929, when the stock market experienced a major collapse during the Great Crash. This event marked the beginning of the Great Depression and had a significant impact on the global economy. The term "Black Tuesday" has become synonymous with this historic event and is widely recognized as the day when the stock market crashed.

Localism is the correct answer because it refers to a policy that focuses on addressing issues and finding solutions at the local and state levels. This approach prioritizes local decision-making and empowers communities to solve their own problems rather than relying on centralized authority. By promoting localism, policymakers aim to increase citizen participation, enhance community resilience, and foster a sense of ownership and responsibility among local residents. This approach recognizes the unique needs and characteristics of different regions and encourages tailored solutions that best suit the local context.

Speculation refers to a risky stock trading strategy where investors make decisions based on their expectations of future market movements, rather than relying on fundamental analysis. This strategy aims to make quick profits by buying and selling stocks or other financial instruments within a short period of time. Speculators often take advantage of price fluctuations and market volatility to make speculative trades. This answer correctly describes the concept of speculation as a risky stock trading strategy aimed at generating quick profits.

During the early 20th century, local, state, and federal governments in the United States attempted to persuade Mexican immigrants to voluntarily return to Mexico through repatriation. This was a government-sponsored program that aimed to reduce unemployment during the Great Depression by encouraging Mexican immigrants to leave the country. Repatriation involved offering financial incentives, such as transportation costs, to those who agreed to return to Mexico. While deportation refers to the forced removal of individuals from a country, repatriation was a more voluntary approach that sought to incentivize Mexican immigrants to return to their home country. Americanization refers to the process of assimilating immigrants into American culture, and the Alien and Sedition Act is unrelated to the question.

Herbert Hoover is the correct answer because he served as the President of the United States from 1929 to 1933. He took office just before the start of the Great Depression and his presidency was marked by his handling of the economic crisis. Despite his efforts to address the situation, the economy continued to worsen, leading to widespread unemployment and poverty. Hoover's inability to effectively address the Great Depression contributed to his unpopularity and he was defeated by Franklin Delano Roosevelt in the 1932 presidential election.