Why were the 1920s a period of success for people in USA?
Economic Boom
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When did the Wall Street Crash happen?
1929
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What is Black Tuesday?
16.5 million shares were sold
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When did Black Tuesday happen?
Tuesday 29 October 1929
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How was USA divided as a result of the Wall Street Crash?
5% of the people owned 33% of the countrys wealth
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What was the Republican way of dealing with things?
Laissez-faire
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What is laissez faire?
Government not interfering in business
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Explain tariffs.
Fewer countries were buying good from USA because they were highly taxed
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Explain overproduction.
Too many goods were being produced and nobody wanted them
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Explain speculation.
People took a chance on the stock market and poor people borrowed too much money to do so. When the shares became worthless they couldn't afford to pay back their loans.
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Other cards in this set
Card 2
Front
When did the Wall Street Crash happen?
Back
1929
Card 3
Front
What is Black Tuesday?
Back
Card 4
Front
When did Black Tuesday happen?
Back
Card 5
Front
How was USA divided as a result of the Wall Street Crash?
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