Week 17 : Ch. 14 (HA 30-32): Great Depression

1. Week 17: Ch. 14 (HA 30-32): Great Depression January 7-11, 2019

2. Why are we here this week? Students will study & discuss the Great Depression (Ch. 14 & HA 30-32). Students will complete open-notes assessment(s) related to the Great Depression. Students will receive 10th Grade Social Studies recommendations & final reminders about OHP assessment SCL due Friday, January 11th

3. HW: Complete RTN Ch. 14 (all sections), plus HA 30-32 by Thursday* OHP revisions for SCL due no later than 1/11 Monday, January 7, 2019 • Conversation Piece OUTLOOK email? Calendar? • Crash Course “SCL” Great Depression What are your top priorities for 10th grade, especially in Social Studies? (create a prioritized list)

5. True or False? (other?)

6. The Tao of PoohPeriod 5 ONLY? • Story of the Chinese stonecutter?

7. Socratic Circle #2 of Unit II Wednesday-Friday, January 22-24, 2019 Written responses to HA focus ?S (30-32 due Thursday, 1/10) Unit 9: The Great Depression and the New Deal (p. 381-427) • What caused the most severe economic crisis in American history? • How did the federal government respond to the economic collapse the began in 1929? • How did ordinary Americans endure the hardships of the Great Depression? • How did expansion of the government during the New Deal affect the nation? ? “answer” HA 30-32…by Thursday!

8. Chapter 14 • Great Depression failing industries & farming problems • stock market “Black Tuesday” • tariffs bank failures unemployment • “Dust Bowl” • Hoover “Hoovervilles” • Reconstruction Finance Corporation (RFC) Bonus Army • OTHER: Page 18-20 in Unit II packet…for NOTES!

9. The Americans • Ch. 14 The Great Depression Begins • Unit 4, p. 408-523 • The 1920s and the Great Depression • History Alive! • Ch. 30 The Causes of the Great Depression • Era 4, p. 326-427 • The Roaring Twenties and Great Depression

10. Ch. 14: The Great DepressionName:(p. 462-485) *Ch. 30, 31, and 32 summary notes from History Alive! • What caused the Great Depression? • What affect did the Depression have on different groups of people in society? 1. The Great Depression was caused by problems in some major , such as low overseas, weakness of , the problem of easy , and the distribution of income. 2. People in suffered greatly as one quarter of the workforce lost their jobs. Farmers suffered as well; low demand kept food prices , and many farmers lost their farms. African Americans and Hispanic Americans had a higher rate; those with jobs often had - jobs. 3. Many men felt devastated by their inability to support their . Some left home. Many women tried to find work, although they were paid than men. Many children suffered from lack of and medical care; many were forced to get . 4. At first did not believe that the government should play an active role in combating the Depression. While he never had the government give aid to people, he did institute to create jobs. 3. How did the Depression affect the family? 4. How did President Hoover’s response to the Depression change over time?

11. Ch. 14: The Great DepressionName:(p. 462-485) *Ch. 30, 31, and 32 summary notes from History Alive! • What caused the Great Depression? • What affect did the Depression have on different groups of people in society? 3. Many men felt devastated by their inability to support their families. Some left home. Many women tried to find work, although they were paid less than men. Many children suffered from lack of food and medical care; many were forced to get jobs. 1. The Great Depression was caused by problems in some major industries such as low demand overseas, weakness of agriculture, the problem of easy credit, and the unequal distribution of income. 2. People in cities suffered greatly as one quarter of the workforce lost their jobs. Farmers suffered as well; low demand kept food prices low, and many farmers lost their farms. African Americans and Hispanic Americans had a higher unemployment rate; those with jobs often had lower-paying jobs. 4. At first Hoover did not believe that the government should play an active role in combating the Depression. While he never had the government give direct aid to people, he did institute projects to create jobs. 3. How did the Depression affect the family? 4. How did President Hoover’s response to the Depression change over time?

12. Ch. 30 - The Causes of the Great DepressionWhat caused the most severe economic crisis in American history? The Great Depression was triggered by the stock market crash of 1929, but many other causes contributed to what became the worst economic crisis in U.S. history. The stock market crash The stock market crash cost investors millions of dollars and contributed to bank failures and industry bankruptcies. The financial crisis Banks made risky loans and investments in the 1920s. Some banks had to shut down when the economy collapsed, and many depositors lost their savings. An unequal distribution of wealth The concentration of money in the hands of a few left most wage earners unable to buy all of the goods businesses were producing. Underconsumption For a time, many consumers used credit, rather than cash, to buy such goods as cars and radios. When their level of debt grew too high, people stopped buying new products. The result was underconsumption of factory goods. Overproduction American businesses produced more goods than people wanted or could afford. Eventually, factories had to close and workers lost their jobs. Tight money supply After the stock market crash, Federal Reserve officials allowed the money supply to shrink. As the amount of money in circulation fell, economic activity decreased. This made it more difficult for businesses to produce and consumers to spend. Rising interest rates After the stock market crash, Federal Reserve officials raised interest rates, making loans more expensive and limiting the amount of money in circulation. This made it more difficult for businesses to produce and consumers to spend. Decline of international trade High import tariffs and collapsing European economies restricted international trade and deepened the Depression.

13. HW: RTN Ch. 14 (all sections), plus HA 30-32 “focus ?s” by Thursday* OHP revisions for SCL due no later than 1/11 In 25 words or less, what 10th grade SS course do you want to take & WHY? Tuesday, January 8, 2019 I. Safari Montage VIDEO…Great Depression Chapters 1-6…packet p. 25? • 10th Grade Social Studies Modern World History: Academic?HONORS?? AP EURO???

14. WRITE about the “observations” & ANSWER some questions! Watch Crash Course: Great Depression AGAIN…. Period 1

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19. “The Great Depression & New Deal” p. 25 • “This program explores the causes of the Great Depression and the impact of the stock market crash as hard times fell on America. It also covers the New Deal, the Dust Bowl and the newly emerging culture of sight and sound. As the New Deal came under fire, the Second New Deal was issued, the Wagner Labor Act was passed, the unions gained power and a modern welfare state was born.” Locate Safari video worksheet AND complete/review!

20. “The Great Depression & New Deal” The prosperity of the Roaring Twenties ended as the Stock Market Crash of 1929 ushered in one of the worst economic depressions in history. Although the causes of the Great Depression were clear to many, solutions to problems such as high unemployment and extreme poverty proved to be elusive. President Herbert Hoover tried to alleviate some of the suffering, but his traditional methods did nothing to improve economic conditions. The 1932 presidential election brought Franklin D. Roosevelt to the White House. He promised a “New Deal” to the American people and embarked on a course to restore confidence in the nation’s financial system and to get people back to work. The programs of the Roosevelt administration sought to bring relief to all segments of the economy and were quickly passed by Congress. President Roosevelt’s “fireside chats” convinced the American people he was on their side and First Lady Eleanor Roosevelt became known as a tireless advocate of the poor and downtrodden.

21. “The Great Depression & New Deal” The decisions of the Supreme Court to declare key measures of the first New Deal unconstitutional were severe blows to the Roosevelt Administration’s plan. Also, conservative Americans lobbied against what they saw as the New Deal’s reckless spending and socialist reforms, while more radical New Deal critics questioned the viability of American capitalism and embraced socialist or even communist solutions to the economic crisis. Roosevelt launched the second New Deal that included key legislation like the Social Security Act and the Wagner Act which made long and lasting changes to the nation.

22. “The Great Depression & New Deal” After his landslide reelection in 1936, Roosevelt’s attempt to pack the Supreme Court with supporters of his New Deal policies failed and the stubborn ravages of the Depression led to new attempts to bring relief through increased federal spending. Eventually, the need to rearm for World War II brought an end to the Great Depression and solidified the reforms of the New Deal. Its legacy would be the assumption of responsibility by the federal government for the health of the economy and for the welfare of its people.

23. Time Line 1920s — The United States enjoys an unprecedented economic boom. 1928 — Herbert Hoover is elected president. 1929 — The stock market collapses. 1931 — Several unemployed men are killed in protests at Ford’s River Rouge plant. 1932 — The unemployment rate in the United States reaches approximately 25%. 1932 — Franklin Delano Roosevelt is elected president. 1933 — The first New Deal legislation begins to be enacted. 1934 — Great Plains dust storms blow soil as far east as Washington, D.C. 1934 — The Supreme Court rules the National Industrial Recovery Act unconstitutional. 1935 — The second New Deal begins. 1935 — The Social Security Act is signed into law. 1936 — President Roosevelt is reelected. 1938 — Congress authorizes federal deficit spending to stimulate the struggling economy. 1940 — President Roosevelt is elected to an unprecedented third term.

24. Vocabulary Roaring Twenties — A term used to describe the economic boom of the 1920s. Stock market crash (1929) — The precipitous decline of the stock market on October 29, 1929 that ushered in one of the worst economic depressions in history. Great Depression — The time period from around 1929 to 1939 in which many people suffered from extreme poverty as a result of high unemployment. Hoovervilles— A derogatory name given to Depression-era shacks where poor people lived when Herbert Hoover was president. trickle down theory — An economic theory that states when taxes are cut for business owners, money will eventually trickle down to the poor in the form of new jobs. Reconstruction Finance Corporation (RFC) — A U.S. Government Agency formed by Congress to give financial aid to banks and businesses and to support public works projects during the Depression. first New Deal — Name given to the set of laws initiated by President Roosevelt in 1933 and 1934 to fight the Depression. National Industrial Recovery Act (NIRA) — The first of the New Deal measures enacted to help businesses recover from the Depression. The Act created a new administrative bureau called the National Recovery Administration, or NRA. Dust Bowl — The calamitous soil erosion caused by the removal of grasslands and severe droughts that ruined many farms and farmers in the Great Plains in the 1930s. Agricultural Adjustment Administration — A government agency formed during the New Deal to give aid to struggling farmers. Civilian Conservation Corps (CCC) — A New Deal agency formed to put young unemployed men to work on federal conservation projects. Works Progress Administration (WPA) — A New Deal agency formed to put the unemployed to work on federal projects.

25. Vocabulary “Black Cabinet” — A group of leaders consulted by Eleanor Roosevelt about issues of unemployment and poverty among African Americans during the Depression. “Blue Eagle” codes — Controversial measures taken by the National Recovery Administration to help businesses. The Blue Eagle was the symbol of the NRA, which was often criticized for discriminatory rules against African Americans. Commerce Clause — The power given to the federal government to regulate commerce between the states, but not within the states. American Liberty League Organization — A group formed by business leaders and by the wealthy to fight against the reforms of the New Deal. Communist Party — A radical political party that questioned the system of capitalism and attracted support in America during the Great Depression. second New Deal — A new set of New Deal relief measures enacted in 1935, chief of which was the Social Security Act. Social Security Act — Far reaching legislation of the New Deal that provided a federal old age and unemployment insurance system. National Labor Relations Act — Also called the Wagner Act, a New Deal law passed in 1935 that required companies to bargain with unions chosen by the workers. court-packing — An unsuccessful attempt by President Roosevelt to increase the number of justices on the U.S. Supreme Court to prevent having New Deal measures declared unconstitutional. Fair Labor Standards Act — One of the last New Deal laws passed in 1938 to set a national minimum wage and maximum work week hours.

32. 10th Grade Social Studies Program Planning Central Bucks School District

33. SOCIAL STUDIES, INCLUDING HISTORY AND THE SOCIAL SCIENCES The study of history rests on knowledge of facts, dates, names, places, events, and ideas. However, true historical understanding requires students to engage in historical thinking: to raise questions and to collect solid evidence in support of their answers; to go beyond the facts presented in their textbooks and examine the historical record for themselves; to consult documents, journals, diaries, artifacts, historic sites, works of art, quantitative data, and other evidence from the past, and to do so imaginatively—taking into account the historical context in which these records were created and comparing the multiple points of view of those on the scene at the time (National Historical Thinking Standards). The study of history provides an ordered account of the past and its significance to us. Sophomores will examine the “modern” world from 1450 C.E. to the present. Juniors will study the importance of civics and examine our American government and its involvement in the US economy. Seniors will focus on how international relations and economics affect our globalized contemporary world. All students are required to complete the four-year sequence (Grades 9-12) of social studies courses for graduation as prescribed in the chart below. Note that students must take one required social studies course in each year—in grade 9, grade 10, grade 11 and grade 12. Any AP course with 1.5 credits will have 1.0 credits assigned to graduation requirements for social studies credit and .5 credit assigned to electives.

34. ? ? ? ??? Geography elective is an additional ½ credit option AP Psychology (1 credit…weighted) 18 weeks (semester) or 36 (A/B schedule) ?? ? Use the following link to find the 2018-2019 Program of Studies https://www.cbsd.org/cms/lib/PA01916442/Centricity/Domain/387/Program%20of%20Studies%202018-2019%20FINAL%20for%20Web.pdf

35. Grade 10 Social Studies 1101 Advanced Placement European History (27 weeks, 1.5 credits) • This course investigates the development of Western European society between 1450 and the present. The students will become familiar with the principal themes in modern European history and the methods for the analysis of historical evidence. • Students who take this course should plan to take the Advanced Placement European History Test given in May. • AP weighted-grade course. • Prerequisites: B or better in 9th Honors United States History, or A- or better in 9th Academic United States History, or teacher recommendation.

36. 1111 Honors Modern World History OR1120 Academic Modern World History (18 weeks, 1 credit) • This course will concentrate on the history of the modern world, both Western and non-Western, from 1450 CE to the present. Topics will include foreign policy, political systems, social and cultural change, and economic trends. The honors course addresses the same time period and topics but in more depth, with added readings, writing assignments, and projects. • Honors weighted-grade for course #1111 • Honors prerequisite: Teacher recommendation.

37. 1163 GeographyGrades 10, 11, 12(9 weeks, .5 credit) This course introduces students to physical, human, and cultural geography.  Students will study the physical characteristics of the earth and the tools of geographers.  The course will also focus on how humans interact and impact our world. Through an engaging and hands on curriculum, case studies and projects, students will try to answer questions such as:  How does geography help us understand our world? In what ways do humans interact with their environment?  How can cultural characteristics link or divide regions? If you “elect” to take this course offering, it does NOT replace the required selection of Modern World History or AP European history. 

38. 1300 Advanced Placement Psychology Grades 10,11,12 (18 for a semester or 36 weeks (A/B schedule-all year), 1 credit) • The Advanced Placement Psychology course is designed to introduce mature students to the systematic and scientific study of the 34 behavior and mental processes of human beings and other animals. Students are exposed to the psychological facts, principles, and phenomena associated with each of the major subfields within psychology. They also learn about the ethics and methods psychologists use in their science and practice. • The Advanced Placement Psychology course will offer students the opportunities to learn about the explorations and discoveries made by psychologists over the past century. Students will get the chance to assess some of the differing approaches adopted by psychologists, including biological, behavioral, cognitive, humanistic, psychodynamic, and sociocultural perspectives. Students will also learn the basic skills of psychology research and develop critical thinking skills. • *Parents and students should be aware that some material may be controversial. Students who take this course should plan to take the AP Psychology test in May. AP weighted-grade course. • Prerequisites: A- or better in 9th Grade Social Studies or teacher recommendation.

39. What Social Studies course should I take in tenth grade? What’s the difference?  In Academic Modern World History (MWH-A): In class – Teacher will provide outlines that students can print off and complete.  PowerPoints thoroughly explain topics.  Slower pace with many checks for comprehension.  One-page primary sources with academic-level questions and guided activities.     For homework, expect 3-6 page reading out of academic level textbook 2-3 times per week, usually with guided notes supplied by teacher. Generally notes are collected, and may be used on open-note quizzes. For unit tests – Students will receive a study guide, tests will be mostly teacher-created, tailored to material from the class, with minimally confusing distractors. 2-3 short answer and essay with graphic organizer for essay. Sample question: Who was the leader of Germany when World War II began?  In Honors Modern World History (MWH-H): In class - Students will be expected to take notes that go along with their reading from the night before.  Quicker pace than academic, less explanation, more discussion.  PowerPoints minimally explain topics; students must listen and copy notes.  Longer primary sources with more conceptual questions, fewer questions straight from the text. For homework, expect a 3-6 page reading from academic level textbook almost every night, with other readings/Quia quizzes on other nights.  Students will read and take notes.  Accountability is usually in form of open-note quiz.  Notes are not collected or graded. For unit tests –  Students will receive a study guide (paper or electronic format), tests mostly teacher-created, with material specifically covered in class but also material mentioned more specifically in homework.  Expect higher-level multiple choice questions. Expect closer distractors on multiple choice tests, 3-4 short answers and an essay. Sample question: Which of the following best represents the idea that technology can change cultures and economies over time? In Advanced Placement European History (AP Euro): In class - Students expected to take notes that go along with their reading from the night before.  PowerPoints have sparse words, mostly visuals, just enough to prompt discussion.  Very fast pace, more discussion than explanation. Longer/more primary documents for reading and discussion purposes. For homework, expect 5-10 pages of college-level textbook reading every night.  The only accountability is open-note quizzes.  For unit tests – Students will be tested using AP level multiple choice (often from previous exams), free response essays or document-based questions (DBQs). Try the same assignment tailored to each class! Go to: http://cbweaver.wikispaces.com/Samples Go to Curriculum Fair @ CB West on Thursday, 1/10/19

40. HW: Complete READING of Ch. 14, plus HA 30, 31, & 32 NOTES to be used on tomorrow’s assessments (minor pts) In general, what is one “depressing” thing about History/SS? How can you turn this into a +/positive? Wednesday, January 9, 2019 I. Great Depression Review Academic?HONORS?? AP EURO??? II. Great Depression: Ch. 14 quiz and/or test PREP RTN done…well???

41. Unit II: 1920s, Great Depression, and New Deal Enduring UnderstandingsStudents will understand that… Cultural patterns established between the world wars are still today.  Conflict occurs when people perceive that values and culture are threatened by modern . Economic excess and the unequal distributions of wealth can lead to in society. Liberals and Conservatives have different beliefs about individual and the proper role of the As a result of the New Deal, the United States government took on responsibilities for promoting the general . relevant traditional changes instability responsibility government greater welfare

42. Ch. 14: The Great DepressionName:(p. 462-485) *Ch. 30, 31, and 32 summary notes from History Alive! • What caused the Great Depression? • What affect did the Depression have on different groups of people in society? 3. Many men felt devastated by their inability to support their families. Some left home. Many women tried to find work, although they were paid less than men. Many children suffered from lack of food and medical care; many were forced to get jobs. 1. The Great Depression was caused by problems in some major industries such as low demand overseas, weakness of agriculture, the problem of easy credit, and the unequal distribution of income. 2. People in cities suffered greatly as one quarter of the workforce lost their jobs. Farmers suffered as well; low demand kept food prices low, and many farmers lost their farms. African Americans and Hispanic Americans had a higher unemployment rate; those with jobs often had lower-paying jobs. 4. At first Hoover did not believe that the government should play an active role in combating the Depression. While he never had the government give direct aid to people, he did institute projects to create jobs. 3. How did the Depression affect the family? 4. How did President Hoover’s response to the Depression change over time?

43. Ch. 30 - The Causes of the Great DepressionWhat caused the most severe economic crisis in American history? The Great Depression was triggered by the stock market crash of 1929, but many other causes contributed to what became the worst economic crisis in U.S. history. The stock market crash The stock market crash cost investors millions of dollars and contributed to bank failures and industry bankruptcies The financial crisis Banks made risky loans and investments in the 1920s. Some banks had to shut down when the economy collapsed, and many depositors lost their savings. An unequal distribution of wealth The concentration of money in the hands of a few left most wage earners unable to buy all of the goods businesses were producing. Underconsumption For a time, many consumers used credit, rather than cash, to buy such goods as cars and radios. When their level of debt grew too high, people stopped buying new products. The result was underconsumption of factory goods. Overproduction American businesses produced more goods than people wanted or could afford. Eventually, factories had to close and workers lost their jobs. Tight money supply After the stock market crash, Federal Reserve officials allowed the money supply to shrink. As the amount of money in circulation fell, economic activity decreased. This made it more difficult for businesses to produce and consumers to spend. Rising interest rates After the stock market crash, Federal Reserve officials raised interest rates, making loans more expensive and limiting the amount of money in circulation. This made it more difficult for businesses to produce and consumers to spend. Decline of international trade High import tariffs and collapsing European economies restricted international trade and deepened the Depression.

44. Ch. 31 - The Response to the Economic Collapse How did the government respond to the collapse that began in 1929? Americans were anything but united in their responses to the Great Depression. Each group’s political ideology shaped its approach. The election of 1932 presented voters with a choice between Republican president Herbert Hoover’s conservative approach and Democratic challenger Franklin Roosevelt’s promise of a New Deal. The conservative response  Conservatives thought the government should leave the economy alone. They believed that the economy would eventually stabilize itself. The liberal response  Liberals thought the government should play a more active role in the economy. They also believed the government should step in to help those in need. The radical response  Radicals advocated abolishing the free enterprise system. They believed that the government should plan economic activity and distribute wealth according to need. Herbert Hoover  At first, President Hoover relied on voluntary cooperation to ease the Depression’s effects. As conditions worsened, Hoover gave government a limited role in the economy. His Reconstruction Finance Corporation, however, failed to revive the economy. Franklin D. Roosevelt  After his landslide victory in 1932, Roosevelt presented Congress with a variety of New Deal measures. During the First Hundred Days of his administration, Congress enacted many programs to provide relief, promote recovery, and enact reforms.

45. Ch. 32 - The Human Impact of the Great Depression How did ordinary Americans endure the hardships of the Great Depression? The Great Depression inflicted terrible hardships on millions of Americans. As unemployment rates skyrocketed to 25 percent, American families shouldered the burdens of financial and emotional stress, while many farmers, unable to pay their bills, lost their farms. Still, resourceful Americans found ways to endure during the hard times. Homelessness  Without steady incomes, many people faced eviction from their homes. Some hit the road. Others moved into cramped apartments with family or friends. Still others lived on the streets or in shantytowns called Hoovervilles. Hunger  The poor and unemployed often found food to be scarce. Children suffered the most from the effects of hunger and malnutrition. In many cities, soup kitchens offered free meals to the needy, who might not eat anywhere else. The Dust Bowl  Years with no rain on the Great Plains created a disaster area known as the Dust Bowl. Hundreds of thousands of people left the drought-stricken region to find work in California. The Great Flood of 1936  Floods in the Northeast caused millions of dollars of damage and put more people out of work. As a result, Congress finally created a national flood-control program. Charity and public assistance  Private charities and state and local relief agencies attempted to relieve the human suffering of the Great Depression. However, by 1933, more needed to be done—and soon.

46. Ch. 14: The Great Depression(p. 462-485) History Alive! Ch. 30 (p. 382-391) The Causes of the Great Depression Ch. 31 (p. 392-399) The Response to the Economic Collapse  Ch. 32 (p. 400-411) Human Impact of the Great Depression

47. Who am I? What do you remember about me & my presidency? “ We in America are nearer to the final triumph over poverty than ever before. ” In 1932, Franklin Roosevelt (Democrat, 1932-1944) launched an ambitious campaign tour of the country by train. At each stop, bands played his cheerful campaign song, “Happy Days Are Here Again.” To the attendees, Roosevelt gave compelling speeches that he carefully planned with the help of a group of advisors nicknamed the Brain Trust. Herbert Hoover had no plans to get out and campaign in 1932. A sitting president typically ran a “front porch” campaign, leaving the White House for only a speech or two. However, as Hoover’s troubles mounted, he could not remain idle. By early October, he decided to take to the road in a campaign tour that included about 200 speeches. HERBERT HOOVER (Republican, 1929-1932)

48. buying on margin broker bull vs. bear market overproduction “vs.” underconsumption buying on margin: buying stock by paying a percentage of a stock's price and borrowing the rest of the money from a broker, allowing one to make greater profits if the stock does well broker: a person who buys and sells stocks for clients bull market: a period in which stock prices are steadily rising bear market: a period in which stock prices are steadily decreasing overproduction: a situation in which more goods are being produced than people can afford to buy underconsumption: a situation in which people are purchasing fewer goods than the economy is producing

49. conservative vs. liberal conservative: someone who cherishes and seeks to preserve traditional customs and values; conservatives in the 1930s valued included self-reliance, individual responsibility, and personal liberty. Conservatives tend to prefer the status quo, or current conditions, to abrupt changes. They accept change, but only in moderation. Depression-era conservatives opposed large governmental efforts to effect change, which they felt challenged their values. liberal: someone committed to the expansion of liberty; By the start of the Progressive Era, many liberals believed that the government should play a role in regulating economic affairs. As the Depression set in, liberals looked to the government to expand its powers once again to protect individual liberty. However, now they defined liberty as freedom from hunger and poverty.

50. This graph shows how the business cycle repeats itself over time. The cycle begins with a period of economic expansion. In time, economic activity peaks, and then the business cycle moves into a period of decline. After the downturn reaches its lowest point, a new period of economic expansion begins. As the graph to the right shows, the index of industrial stocks plunged between its peak in 1929 and 1932, losing nearly two thirds of its value. A stock index measures the performance of stock prices over time. ???????????????? INTERPRET any of these graphs