Chapter 22: Crash and Depression Business Cycle: 1.) Expansion: doing well (going up) 2.

) Contraction: not doing well, fewer jobs not a lot of production 3.) Peak: maximum expansion 4.) Trough: lowest point Recession vs. Depression: Recession: a period of long decline in the contraction period Depression: a period of a severe recession in the business cycle Elasticity: -how much changes in the price of a product effects the demand Elastic Product: something that you can do without if the price goes up (ex. New car, home...ect) Inelastic Product: something youll buy no matter the price (ex. Gas, water, food) Opportunity Cost: the opportunity cost is the cost of something a person did NOT do b/c they chose to do something else. (ex. Britney Spears has a very high opportunity cost because if she wasnt a celebrity what else can she do. Bill Gates has a very low opportunity cost because if he didnt own Microsoft he would still he a very highly educated man) _______________________________________________________________________ _________________________ Dow Jones Industrial Average: average of stock prices of major industries Black Thursday: Oct. 24th, 1929 stock market started to drop rapidly Black Tuesday: Oct. 29th, 1929 16.4 Million stocks sold. CausedGreat Crash: collapse of the stock market Effect of Crash: Bank Runs: people tried to withdraw all their money but the banks had lent it out and werent getting paid...therefore people couldnt withdraw their money Growth National Product: total value of goods and services (greatly declined during the depression) Causes of the Depression: -Unstable Economy 1.) National Wealth Unevenly Distributed (uneven prosperity of the 1920s) 2.) Industries produced too many goods

-Over Speculation 1.)Investors bought stocks w/ borrowed $ and pledged collateral to buy more stocks -an item of value that a borrower agrees to forfeit to the lender -Gov. Policies 1.) Federal Reserve System cut interest rates to spur economic growth -Nations central banking system Poverty: -Hoovervilles - homes made of scrap metal -Hoover Blankets Newspaper -Hoover Flags Empty pockets turned out -Dust Bowltop soil of the great plains blew up due to drought and bad farming techniques Surviving the Depression: Prohibition: a ban on the manufacture and sale of alcoholic beverages 21st Amendmentrepealed prohibition Empire State Building

Hoover vs. Roosevelt 1932 Election Herbert Hooverblamed depression on worldwide economic conditions -Wait it out strategy -Voluntary Action: a voluntary control by businesses was the way to end the economic crisisfailure public blamed him and the republicans -it was state and local governments responsibility Gov. Acts 1.) Agricultural Marketing Act (AMA) provided relief for farmers by creating the Federal Farm Boardwhich was designed to establish a set prices for farm crops 2.) Hawley Smoot Tariff- highest import tax in history (backfired) 3.)Reconstruction Finance Corporation (RFC)- gave government credit to a # of institutions and lent $ to banks to extend loans 4.) Home Loan Bank Act- discounted mortgage rates (helped

homeowners and farmers save their homes and farms) Bonus Army: 20,000 jobless WWI veterans marched to Washington -wanted immediate payment of pension bonus that had been promised in 1945 Franklin D. Roosevelt New Deal for America Wanted to have more government involvement WON by a landslide (7 million votes) _______________________________________________________________________ _________________________ The Massie Case Thalia and Thomas Massie Chapter 24: WWII The Road to War Totalitarian rule: a gov. that exerts total control over a nation Fascism philosophy of gov. that emphasizes the supreme authority of a nation Joseph Stalin: took over USSR in 1942 -wanted to combine small farms to make one huge collective farmturned them into an industrial power -perges: process of removing enemies and undesirables from power Mussolini: Italy fascist leader Adolf Hitler: Nazi Party (Nationalist Socialist Party) Nazism: Fascism shaped by Hitlers ideas mein kampf -Demanded Sudetenland -Chamberlain: Appeasement (gave in to keep the peace) Axis Powers: Germany, Italy, and USSR Lightening War Blitzkrieg fast concentrated air attacks France: Maginot Line only covered part and all guns were pointed to the East Germany Attacks! Captures France Vichy Government Dunkirkto pockets N. & S. North retreated and boat lifted back to Great Britain Battle of Britain Luftwaffe bombed

Japan growsrise of Nationalism and a return to traditional ways Manchurian Incident: due to population explosion lacked the land and resources to support acquisition of Manchuria -Independent state of Machukuo -Head: Pui (emperor) Puppet State: independent country in control of a power neighbor War against China: occupied Beijing and Tianjin Japan had weapons > China Manpower US: Neutral Soviet Union: gave weapons to China Britain: sent supplies over Burma Road Beyond China: Greater East Asia Co-Prosperity Act -Liberate Asia from Europe -Allied with Germany & Italy -Neutrality Act with Soviet Union

US: Neutrality 1.)Hawley Smoot Tariff-prevented int. trade 2.) Neutrality Acts -banned US from providing weapons for war -banned US loans to nations at war 3.)Cash and Carry -allowed trade w/fighting countries in nonmilitary goods as loans as the nation paid cash and transported cargo themselves -Roosevelt wanted to revise neutrality acts appealed arms embargo and provided weapons to Britain and France allowed American merchant ships to transport America First Committee (Charles Lindberg) wanted NO US involvement Lend-Lease Act: provided aid to any nation whose defense was vital to US security Japans Attack on Pearl Harbor -General Tojo Hideki: took power of Japan and supported was against the US Attacked Pearl Harbor!!!! Operation Z

-crippled US fleet in the Pacific, USS Arizona (death), US aircraft carriers NOT damaged Why didnt it work out 100%? -airplane carriers were out to sea - oil tanks not destroyed -boats on dry decks were not destroyed Japanese Trepidation woke up a mean sleeping dog -Admiral Yamamoto knew that if it wasnt 100% successful that theyd be in trouble WWII innovations -Long-range radios -Telegraphs -Trans-oceanic cables -Sophisticated codes -Enigma code machine -Navajo Code Talkers - Improved tanksfaster, more armament, rotating torrents, more heavily armed, able to reverse, rougher terrain, more reliable - Aircraft designs: -jet power -rocket powered gliders -pressurized cabins -delta wings -long range Allied Victories: Axis short on supplies (raw materials and man power) nothing to compare with the industrial might of the US In Europe: bombing campaign by Britain and US Battle of the Bulge: Germanys last attempt Russians advance on Berlin, German _______________________________________________________________________ _________________________ Chapter 25 WWII: Americans at War Development of the Atomic Bomb Manhattan Project 1.) invading Japan would cause a lot of US Death 2.)naval blockade 3.)demonstration of weapon on deserted island 4.)softening allied demands of surrender

Selective Training & Service Act 1st peacetime draftrequired all men 21-36 to register -GI government issue (those who went to war) War Time Production 1.)War Production Board: direct the conversation of peacetime industrieswar industries 2.) Office of War Mobilization: super agency in the centralization of resources 3.) Liberty Ships: large merchant ships: Kaiser Office of Price Administration (OPA) control inflation limiting prices and tents Americans joined the struggle in Europe Carpet Bombing: scattered large # of bombs in a large area D-Day: the day of the invasion of Western Europe Liberating France! Battle of the Bulge: German forces launched a counterattack resulting in a bulge in the allied line when they knew the war was lost War in Europe Ends...USSR and US met at the Elbe River Yalta Conference: decide shape of a post-war world Holocaust: systematic murder of European Jews (6 million <2/3>) -gestapo -SS (schutzstaffel) Kristallnacht-> night of broken glass Warsaw Ghettoin Poland Wannsee Conference final solution -camps in Poland meant to deliberately destruct Nurenberg TrialsNazis on trial (finally responsible) Japanese Advance 1941-1942 Bataan Surrender Bataan death March (going against Geneva convention b/c not allowed to torture prisoners of war) War at Sea

-Japan wanted to destroy US aircraft carriers Dolittle Bombed Tokyo not a lot of damage just boosted US morale Battle of the Coral Sea prevented Japan from invading Australia Battle of Midway faught in the air -broke the Japanese code -US won! Battle Guadalcanal marines landed on the island -conquered the 1st Japanese territory Struggle for the Islands: Island Hopping The Philippines Campaign -free the Philippines -3-day battle of the Leyte Gulf -kamikazes Iwo Jima and Okinawa -last obstacle -350 m away from Japan Atomic Bomb: August 6thHiroshima August 14thNagasaki Social Impact of the war: Fair employment actcouldnt discriminate in defense production jobs CORE (Congress of Racial Equality) Mexican Americans: Braceros shortage of farm laborershelp Mexico Lived in Barrios Japanese Internment _______________________________________________________________________ _________________________ Who and what are we?

Ascribed vs. Achieved Ascribed-traits a person has that they had little to do with (age, race, nationality..) Achieved- traits a person had that are a result of their own efforts Race, ethnicity, and Nationality MINORITY GROUPS -a whole category of people who share a physical characteristic or cultural practice that result in the group being denied equal treatment -Victim of unequal treatment a the hands of the dominant group Ascribed status beyond ones control -strong bond and a sense of group loyalty What are civil rights? -the right to receive equal treatment -freedom from unfair treatment or discrimination George Wallace gov. of Alabama ran for president a 4 times divisive person: makes us choose sides (took a stand) strong opinion -against desegregationdidnt want to let the two kids into the university of Alabama American Ind. Party _______________________________________________________________________ _________________________ Chapter 28: Civil Rights Movement NAACP-National Association for the Advancement of Colored People -Plessy vs. Fergusonsegr. But equal -Thurgood MarshalMr. Civil Rights Brown vs. Board of Education -segregation of American schools all local schools would segregate Montgomery Bus Boycott -Rosa Parks

-refuse to use city buses until segregation policy was changed Resistance in Little Rock -stationed the national guard to prevent black students from going to school Philosophy of Non-Violence -SCLC Southern Christian Leadership Conference -advocating non-violent Dr. MLK Jr. leads the way -young Baptist preacher New Voice for Students Student Non-Violent Coordinating Committee (SNCC) Malcom X & Black Nationalism Nation of Islam Black Muslims -Elijah Muhammadleader of Nation of Islam -opposition to integrationformed Muslim mosque went to Mecca and had a change of mind Black PanthersBobby Seale and Huey Newton -violent Voting Right Act of 1965 -fed. Officials could register voters in places where local officials were blocking -eliminated literacy tests and other blocks to voting 24th Amendment: outlawed poll-taxes Diff. types of Segregation De Jure segregationseg. Created by the law De facto segregation seg. Created by social conditions