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Chapter 30 American History I. The Causes of the Great Depression a. Define: Black Tuesday b. Define: Stock Market Crash c. What is the purpose of the stock market? i. Define: bull market ii. Why were most people investing in the stock market at the time? iii. Define: broker iv. Define: buying on margin 1. Why is this significant? 2. Why were most people buying stock at this time? v. Define: bear market 1. How much money was lost by investors during the bear market? d. How did the stock market cause banks to close? i. Define: Interest ii. Define: bank runs 1. How many banks failed in 1931 and 1932? 2. How many were out of business by 1933? Orzechowski/USH – Chapter 30 Outline 1 e. Briefly describe each of the following causes for the crippling of the economy at the time. i. Overproduction: ii. Widening wealth gap leads to rising debt: iii. Underconsumption: 1. What three areas were affected by this cause? (briefly describe each) a. b. c. f. Briefly describe how the federal government made the situation worse. i. Define: Federal Reserve System ii. Define: discount rate iii. Define: Hawley-Smoot Tariff Act Orzechowski/USH – Chapter 30 Outline 2