CPUSH Unit 11 Review

Explain how weak industries contributed to the outbreak of the Great Depression in October 1929.
Railroads, steel, cotton textile, oil industries were all suffering during the 1920s; These industries began laying off employees well before the crash in October 1929

When a person borrows money to pay for a stock in hopes that the stock will make money is called…
“Buying on margin”

Why is October 29, 1929 such an important date in American history?
The stock market crashed sparking the Great Depression

How did bank failures contribute to the Great Depression?
The “run on the banks” led to a lack of funds and banks had to close; when banks failed, Americans lost their life’s savings; money in banks was not insured

What is “consumer confidence” and how did it make the Great Depression last so long?
Confidence to spend money; this was absent during the depression because of high unemployment or under-employment, people did not know if they would have pay checks tomorrow. As a result, Americans did not spend money which kept business unable to sell which meant there were few jobs

Name 2 reasons for the Dust Bowl of the 1930s.
over-farming in the Plains, heavy droughts, lack of trees to block the winds, heavy windstorms, loose topsoil

What is a Hooverville?
a group of shanties that were created by people who lost their homes during the depression

What is an Okie?
a farmer (typically from Oklahoma) who moved to California because he lost his farm during the Dust Bowl

What did President Herbert mean by “rugged individualism”?
This was Hoover’s initial response to the depression: refers to the idea that each individual should be able to help themselves out. He rejected active gov’t intervention in the economy during the early years of the depression (but he will eventually be more active).

Name two ways President Hoover actively tried to fight the effects of the Great Depression.
He offered relief checks to needy Americans; formed the Reconstruction Finance Corps (RFC) which loaned money to keep businesses open; he create jobs through the Hoover Dam project

What characteristic of the American economy was the most obvious evidence that the country was in a really bad depression in the 1930s?
High unemployment (25%)

What were the “three R’s” of President Franklin Roosevelt’s New Deal program and what does each “R” mean?
Relief—provide immediate assistance to the unemployed through relief checks and gov’t-created jobs
Recovery—stimulate the economy (especially farming and industry) in order to end the depression
Reform—create long-term solutions to economic problems in order to avoid future depressions

What is the New Deal? Describe 2 characteristics of the New Deal.
FDR’s program to end the depression/active gov’t policies to fight the depression; gov’t spending, deficit spending, job programs, relief efforts, attempt to end the depression (recovery), long-term reforms, welfare programs

What is the 100 Days?
FDR’s first 3 months in office when Congress passed 15 New Deal laws to fight the depression

What was the first action FDR took as president to address the Great Depression?
The bank holiday

Which New Deal recovery program helped farmers by offering government subsidies so farmers would not produce as much food (thus lowering the supply and increasing price of crops)?
Agricultural Adjustment Act (AAA)

Which New Deal relief program gave jobs to young men, aged 18-25, to plant trees and build roads and parks?
Civilian Conservation Corps (CCC)

Which was the largest, most comprehensive job-creation program of the New Deal, creating relief and jobs for over 8 million Americans including artists, musicians, construction workers, teachers, and doctors?
Works Progress Administration (WPA)

What was the name of FDR’s radio communications to the American people about his plan to fight the depression?
Fireside chats

Which New Deal reform created regulation of the stock market?
Securities and Exchange Committee (SEC)

Which New Deal reform protected Americans’ bank accounts from bank failures?
Federal Deposit Insurance Corporation (FDIC)

Which New Deal reform offered pensions for elderly Americans and welfare for single mothers and the disabled?
Social Security Administration (SSA)

Name two goals of the Tennessee Valley Authority (TVA).
Provide hydroelectric power to the South, create jobs for unemployed workers (building dams), flood control, soil conservation, help the South (this region was devastated by the depression)

One of the most popular critics of Franklin Roosevelt and the New Deal was Huey Long. What was Long’s plan to fight the depression?
His “Share the Wealth” plan would have taxed rich Americans. The very rich would have all money over $1 million taxed and every American would be given $2,500.

Why were many Americans critical of FDR’s New Deal by 1935?
Since 1933, FDR spent billions of dollars (deficit spending) but the depression had not ended. Many Americans were worried about the size of gov’t, the expense of the New Deal, & how America would pay for it later.

In 1937, the U.S. Supreme Court declared many of the New Deal programs unconstitutional. FDR responded with a failed attempt to “pack the court.” What is “court packing”?
FDR attempted to increase the number of justices from 9 to 15. According to the Constitution, the president can appoint whoever he wants to the Supreme Court (but the Senate has to approve). FDR hoped to add 6 more justices who supported the New Deal. The Senate rejected his court packing plan.

Which New Deal reform guaranteed union workers the right to strike and collectively bargain as well as outlawed company practices that discouraged union membership?
Wagner Act

For the 1st time in American history, FDR decided to get America out of a depression by active government spending, even if the government did not have the money to spend. What is the concept called when the government goes into debt to stimulate the economy?
Deficit spending

Why did the depression finally come to an end in the 1940s?
The outbreak of World War II led to total war, created factory jobs, stimulated industry and agriculture

Name two groups of Americans that joined the “Democratic Coalition” (Democratic voting bloc) and became very loyal to the Democratic Party because of FDR’s New Deal efforts?
Union members, African Americans, immigrants, & poor voters

During the depression, who was most responsible for bringing attention to the inequalities and racism suffered by African American and the inequalities that women faced in the 1930s?
FDR’s wife, Eleanor Roosevelt

Name one major difference between the approaches taken by President Hoover & President Roosevelt to combat the depression?
Hoover believed in individual efforts while FDR believed the gov’t should take the lead; Hoover did not think it was the government’s responsibility to intervene in the economy while FDR did; Hoover believed in “rugged individualism” while FDR initiated the New Deal.

Name the New Deal programs that offered relief to Americans during the depression.
Civilian Conservation Corps (CCC), Works Progress Administration (WPA), Tennessee Valley Authority (TVA)

Name the New Deal programs that created long-lasting reforms during the depression.
Securities and Exchange Commission (SEC), Federal Deposit Insurance Corporation (FDIC), Social Security Administration (SSA), Tennessee Valley Authority (TVA), Wagner Act

Name one New Deal programs that tried to recover the overall economy during the depression.
Agricultural Adjustment Act (AAA)

Why were Social Security and the Tennessee Valley Authority criticized as being “socialistic”?
Both programs gave the gov’t control (over retirement, welfare programs, and electricity) rather than private companies. Anytime the gov’t provides a service that could be handled by businesses it is considered a threat to free enterprise (capitalism). This explains the current attack against President Obama’s health care reform by conservative Americans.

Explain how over-production/under-consumption contributed to the outbreak of the Great Depression in October 1929.
Companies were making too many consumer goods and there were not enough buyers by the late 1920s

Explain how farming contributed to the outbreak of the Great Depression in October 1929.
Farmers struggled in the 1920s because of the decline in demand for crops after World War I. Farmers had heavy debts and many lost their farms to the banks (foreclosure)

Explain how the uneven distribution of wealth contributed to the outbreak of the Great Depression in October 1929.
70% of Americans were poor and were not able to spend much money in the 1920s

Dust Bowl southwestern great plains region, caused by misuse of land drought and overproduction Bonus Army Group of WWI vets. that marched to D.C. in 1932 to demand the immediate payment of their goverment war bonuses in cash WE WILL …

Causes of Great Depression 1. Banks borrowing too much money to people that could not pay it back. As time went on, banks stopped lending and thousands went out of business 2. Too many people borrowing money to use for …

the day of the stock market crash october 29th, 1929 black tuesday another name for the periodic expansion & contraction of the economy business cycle WE WILL WRITE A CUSTOM ESSAY SAMPLE ON ANY TOPIC SPECIFICALLY FOR YOU FOR ONLY …

Farmers did not share in the prosperity in the 1920’s because… Make enough money on their crops to pay off debts The Great Depression affected… The global economy WE WILL WRITE A CUSTOM ESSAY SAMPLE ON ANY TOPIC SPECIFICALLY FOR …

Which of the following was NOT a cause of the Great Depression? Black market production and sale of alcohol during Prohibition What was one of the major problems of the 1920s? Americans were overspending while buying on credit WE WILL …

Causes of the Great Depression ♦Uneven distribution of wealth ♦Stock market speculation “buying on the margin” ♦Excessive use of credit ♦Overproduction on consumer goods ♦Weak farm economy ♦Government policies ♦Global economic policies Black Tuesday ♦Stock market crash (Oct. 29, 1929) …

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