Essential question 4.2 : What were the causes and impacts of the Great Depression: Explain how the rise in interest rates affected the economy. Explain how speculation by banks affected the economy What happened on Black Friday? What happened to individual investors on October 29 (Black Tuesday) What effect did the collapse of the stock market have on banks and on Wall street? List the social effects of mass unemployment including the effect on minority workers. Was the US a welfare state in 1932? Explain why or why not