7-The Great Depression

A major purpose of the federal Social Security system is to
provide a pension system to support workers during their retirement

bank failure
Soon after the stock market crash in 1929, people rushed to withdraw their money from banks. Most banks were already struggling to cope with the large number of loans to farmers and businesses that were going unpaid. They did not have enough money to cover the massive number of withdrawals. These actions led to _.

Black Tuesday
_, October 29, 1929, was the day that the U.S. stock market crashed, marking the beginning of the Great Depression.

Civilian Conservation Corps
The _ employed young, unmarried men who worked to restore and protect the country’s natural resources. The projects they worked on included fighting forest fires, building flood barriers, planting trees, and maintaining forest roads and trails.

During the 1920s, companies sold shares of stock primarily to
raise money for improvements

Dust Bowl
The _ was the name given to a large area of the southern and western plains during the 1930s.

Federal Deposit Insurance Corporation (FDIC)
The _ was formed in 1933. After the bank failures of 1929 and the early 1930s that sparked the Great Depression, the U.S. government wanted to ensure that a similar event could never happen again.

fireside chats
The “_” were a series of radio addresses to the American public given by President Franklin Roosevelt.

Franklin Delano Roosevelt
_ served as president of the United States during two of the nation’s gravest crises: the Great Depression and World War II. As the 32nd president, he was elected for four terms, serving in the position longer than any other president in U.S. history.

Great Depression
The _ was a period of severe economic decline in the United States and many other countries around the world.

gross national product (GNP)
_ is a statistic used to describe a country’s economic production and growth. It provides one way of measuring the total value of all goods and services produced by a given country within a given period of time.

Hawley-Smoot Tariff of 1930
The _ is also known as the United States Tariff Act of 1930. It was a piece of legislation passed by Congress and signed by President Herbert Hoover on June 17, 1930. The purpose was to help American businesses, primarily farmers, by increasing import taxes to make domestic goods relatively cheaper.

Herbert Hoover
_ was the 31st president of the United States, during the beginning of the Great Depression.

_ was the name given to many of the shantytowns that grew up around cities during the Great Depression. They were named after President Herbert Hoover because people blamed him for the economic situation.

How did many European countries respond to the Smoot-Hawley Tariff?
They increased their own tariff rates.

How did President Herbert Hoover respond to the Bonus Army in 1932?
He denied their requests for government aid.

How did the Great Depression affect population trends in the United States?
Large numbers of farmers migrated to the West Coast.

How did the Smoot-Hawley Tariff of 1930 worsen the Great Depression?
It limited trade between the United States and other nations.

How were the Depression-era photographs of Dorothea Lange and novels of John Steinbeck similar?
Both depicted regular people dealing with the harsh conditions of the Great Depression.

Huey Long
_, an ambitious politician, embodied the part of the American Dream that says anyone can grow up to be whoever he or she wishes.

In 1935, the Supreme Court restricted the power of the executive branch to
regulate private industries

_, a French phrase that means “leave it alone,” is a particular way of thinking about economics and politics. Those who believe in this theory have a preference for self-reliance and minimal central government.

President Roosevelt’s time as president had which effect on American politics?
It created a coalition of voters that gave Democrats a national advantage over Republicans.

Securities and Exchange Commission (SEC)
The _ purpose was to enforce regulations designed to bolster investor confidence in the stock market.

Social Security
One of the most important pieces of legislation to emerge from the Roosevelt administration’s Second New Deal was the _ Act of 1935. Its official title was Old Age, Survivors, and Disability Insurance (OASDI). The purpose of social security was to provide a pension for older Americans, many of whom had lost their jobs, homes, and life savings in the Great Depression. The program also paid benefits to laid-off and disabled workers and to underprivileged families with dependent children.

Tennessee Valley Authority (TVA)
The largest public power producer in the United States today was created on May 18, 1933, as part of the New Deal. The _ was meant to serve two purposes. First, it would tame the unpredictable Tennessee River to control flooding and improve shipping routes. Second, it would turn the river into a hydroelectric powerhouse.

The actions of the Federal Reserve had which effect on economic conditions at the beginning of the Great Depression?
They deepened the credit crisis.

The Federal Deposit Insurance Corporation (FDIC) was created primarily to address which problem?
the widespread bank failures that resulted from bank runs

The Hoover administration initially responded to the onset of the Great Depression by
urging volunteerism

The New Deal
When Franklin Delano Roosevelt took the oath of office to become president in 1933, the United States was in dire economic straits. During the campaign, FDR had promised the American people a “_.” He organized programs designed to put people back to work and to heal the nation’s troubled financial system.

The outcome of the 1932 presidential election demonstrated which of the following?
Americans wanted the government to respond more aggressively to the Great Depression.

The Works Progress Administration (WPA) contributed to the cultural development of American cities by
paying artists to create new works for public spaces

Twenty-First Amendment
On December 5, 1933, the _ to the U.S. Constitution was ratified, ending Prohibition. This amendment repealed the Eighteenth Amendment which in 1919 banned the manufacture, sale, and transportation of alcoholic beverages in the United States.

What action taken by the federal government during the 1920s contributed to the Great Depression?
cuts in tax rates for the highest-earning individuals

This action did President Hoover take late in his first term in response to the Great Depression?
He provided government-secured loans to encourage investment.

This behavior most contributed to the high number of bank failures at the beginning of the Great Depression?
Banks used account holders’ deposits to make risky loans that were not paid back.

This factor contributed to increased resentment against women in the workplace?
high unemployment among men

This factor contributed to the establishment of shantytowns across the United States during the Great Depression?
the sharp increase in homelessness

This factor most directly contributed to factory layoffs and unemployment during the Great Depression?
overproduction of consumer goods

This farming practice may have contributed to the Dust Bowl?
overharvesting wheat

This New Deal initiative was created to help preserve U.S. natural resources?
Civilian Conservation Corps

This statement accurately describes the U.S. economy during the 1920s?
A small number of workers earned a large share of the nation’s wealth.

This statement best describes how the lack of government regulations on investing affected the U.S. economy during the 1920s?
It encouraged speculation that ultimately resulted in a major crash of the stock market.

This statement best describes President Franklin D. Roosevelt’s second term in office?
Though Roosevelt retained the support of the American public during his second term, political and economic setbacks threatened to undo his achievements.

This statement best describes the credit crisis that intensified the Great Depression?
It led to personal bankruptcies and widespread bank failures.

This statement best describes the importance of President Roosevelt’s “fireside chats”?
They demonstrated the president’s ability to communicate with the American public.

This statement best describes the political results of the Bonus Army incident?
For many Americans, President Hoover became a symbol of the government’s inability to deal with the Great Depression.

This statement best describes the U.S. economy during the 1920s?
Although the country experienced a period of growth, not all Americans shared in this prosperity.

This statement best explains the importance of the Supreme Court’s ruling in Schechter Poultry Corp. v. United States (1935)?
The ruling weakened the government’s power to regulate fair-labor practices.

This statement best explains why large numbers of American investors tried to sell their stocks in October of 1929?
They lost confidence that the companies they owned would be profitable.

This statement best explains why President Roosevelt proposed his 1937 “court-packing” plan?
He wanted to add to the Supreme Court more justices who supported the New Deal.

This statement best explains why socialism and communism gained support during the Great Depression?
Socialists and communists favored government policies designed to relieve much of the suffering caused by the Depression.

This statement best explains why the New Deal did little to reduce racial discrimination?
The Supreme Court overturned most New Deal programs intended to promote racial equality.

This type of government program did President Hoover prefer to address the conditions of the Great Depression?
indirect assistance to relieve the debts of businesses

Works Progress Administration (WPA)
The _ was a New Deal employment program that recognized the need to put people back to work. It also recognized the importance of supporting all types of employment, including cultural pursuits.

Roaring Economy to Great Depression It made the economy weaker. What effect did the use of credit have on the economy in the 1920s? WE WILL WRITE A CUSTOM ESSAY SAMPLE ON ANY TOPIC SPECIFICALLY FOR YOU FOR ONLY $13.90/PAGE …

Gross National Product the total value of goods and services produced in percent Herbert Hoover an candidate leader that had build an outstanding reputation as a businesslike administrator that guide the prosperous nation, supervise America’s food production during WWI and …

What occurred on “Black Tuesday”? A stock market crash wipe all the gains of the previous year The Wall Street crash Marked the beginning of the depression, but did not cause it WE WILL WRITE A CUSTOM ESSAY SAMPLE ON …

Speculation An involvement in risky business transactions in an effort to make a quick and/or large profit Buying on the Margin Buying stocks by borrowing money from a bank or broker; allowed everyday people to buy stock which in part …

Black Tuesday In October 1929, this is the day the stock market crashed, signaling the start of the Great Depression Great Depression In the 1930s, this was a period of low general economic activity marked especially by rising levels of …

McNary-Haugen Bill a bill passed by Congress that called for federal price-supports for key products such as wheat and corn in which the government would buy surplus crops at guaranteed prices and sell them on the world market. However, this …

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