Causes and Early Effects of the Great Depression

1. What happened on "Black Tuesday"?
The stock market crashed.
2. How did the economic trends of the 1920s in industry, agriculture, and with consumers help cause the Great Depression? (Make sure you include significant details about each area in your answer. It should be at least a paragraph)

In industry many key industries (like lumber, railroads, and coal mining) profits' fell. This is an indicator of a weak economy. Agriculture boomed after WWI and farmers took out loans to buy more eqipment but them demand fell and many farmers went into debt. Consumers at the time were also increasing the problem. They were investing in stocks which they couldn't pay for and buying stocks without considering the risks.
3. According to your reading, what are the major causes of the Great Depression?

The decline in industry and agriculture, irresponsible consuming, unequal distribution of wealth, and easy credit.
4. What was Hoover’s philosophy of government?

HOover was a humanitarian but did not beleive in social welfare. His refusal to help the needy made him very unpopular during the depression.
5. What was Hoover’s initial reaction to the stock market crash of 1929?

HE didn't really do anything. HE just got some leaders together and they discussed the stock market crash.
6. What was the nation’s economic situation in 1930?

Worse than in 1929 because nothing had been done.
7. How did voters in 1930 respond to this situation?

They ousted the republicans and elected democrats.
8. What did Hoover do about the economic situation?

The Federal Home Lone Act allowed people to refincance their houses, and the RFC helped big business.
9. How did the economy respond to his efforts?

It didn't really. Too little too late.