The Great Depression Final

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What group experienced an early depression in the 1920s?
farmers

In 1929, the stock market crashed because
investors lost confidence in the market and rushed to sell their shares

Why would most people abandon farms after the dust bowl?
the land could not be farmed

What factor helped hide economic problems in the 1920s?
Americans purchased many consumer goods on credit

What event occurred on Black Tuesday?
Investors sold more than 16 million shares of stock

Why did so many banks collapse at the beginning of the Great Depression?
too many depositors tried to withdraw their money all at once

European countires reacted to the Hawley-Smoot Tariff by
passing high protective tariffs

President Hoover responded cautiously to the Great Depression because he
thought that the business cycle would correct itself

Why did many Americans decide that the country needed new leadership in 1932?
President Hoover’s volunteerism and trickle-down economic policies had failed

How did the uneven distribution of the nation’s wealth lead to the depression?
Farmers had huge surpluses of crops but demand for them decreased drastically so they went into debt, acquiring a line of credit was easy, but it caused more debt for people who could not make payments and wealthy people grew wealthier and had money to spend on consumer products, but this spending was not enough to keep the economy booming

Why did Hoover’s philosophy of volunteerism fail?
Businesses and citizens acted in their individual best interests

What did Roosevelt and Congress pass the day after FDR’s inauguration?
Emergency Banking Bill

Roosevelt created the Securities Exchange Commission (SEC) to
regulate the stock market

What reason does the National Labor Relations Act give for allowing labor unions to form?
Collective bargaining ensures equality and protects the flow of business

What were the goals of the new deal?
provide relief, recovery and reform

Some opponents of the New Deal believed that it
threatened individual freedom

The Agricultural Adjustment Act helped farmers because it
sought to end overproduction and raise crop prices

What did President Roosevelt introduce to help retirees?
Social Security Act

The Rural Electrification Administration provided electricity to
farmers

The right to collective bargaining was part of the
Wagner Act

What was the chief complaint of Conservatives against the New Deal?
made the government too powerful

Who was the first female Cabinet member?
Frances Perkins

How did the Indian New Deal reverse the conditions that resulted from the Dawes Act?
John Collier helped get laws passed that restored tribal control over American Indian land

World War I veterans who marched to demand payment of money promised by Congress
Bonus Army

Dust Bowl refugees who moved westward to find work
Okies

Risky stock purchases made by investors with the hope of high returns
Speculation

President when the stock market crashed
Herbert Hoover

the periodic expansion and contraction of the economy
business cycle

agricultural workers who work on land owned by someone else
tenant farmers

the theory that money invested in banks and businesses will work its way through the system to laborers
trickle-down economics

An important factor contributing to the start of the great depression in the United States was the
uneven distribution of wealth

After the election of 1932, a friend told President FDR that if he succeeded he would go down in history as the greatest American President. Roosevelt replied, “Yet if I fail, I may be the last one.” This response reflected FDR’s belief that the
Great Depression threatened the people’s faith in democracy

Putting down a small amount of cash to buy shares of stock is known as
buying on margin

Shantytowns of the suddenly poor and displaced were known as
Hoovervilles

How did President Hoover deal with the gathering “Bonus Army”
he sent in armed troops to break up the gathering veterans

As a result of stock market gambling
Americans borrowed heavily to bet on stocks, businesses put their cash into margin loans rather than into employee wages, the connection between the real value of companies and their stock prices was reduced

What is not one cause of the depression?
runaway inflation in the costs of goods and services in the late 1920’s

Herbert Hoovers methods for dealing with the depression did not include
direct relief payments

In 1932, the percentage of unemployed was about
25%

Testifying before a house subcommittee on the depression, and Oklahoma newspaper editor said, “Which Oregon sheet raisers fed mutton to the buzzards, I saw men picking for meat scraps in the garbage cans in the cities of New York and Chicago.” The unstated main idea of the quotation is that
the poverty of the depression exists amid the plenty of a rich country

Rate of unemployment in the US by 1933
25%

Louisiana governor nicknamed “The Kingfish.” An advocate of “Share the Wealth” program, he attacked FDR’s New Deal
Huey Long

President at the beginning of the depression, he is often criticized for not providing direct relief to individuals during the depression
Herbert Hoover

As secretary of Labor, she was the first woman appointed to the cabinet
Frances Perkins

He attempted a court packing plan to increase the number of Supreme Court justices from 9 to 15
Franklin D. Roosevelt

Created by the Glass Steagall Act, this insured deposits in banks for up to $5000
FDIC

Set up commission to regulate the stock market
SEC

Public program which employed young men aged 18-25 to restore historic sites, plant trees, stock fish, and build trails
CCC

Massive public works program which controlled rivers and bettered farms along the Tennessee river
TVA

This New Deal program paid farmers to set aside land to decrease supply of crops and raise prices
AAA

Massive employment program that employed 8.5 million Americans, including artists, musicians and photographers
WPA

Day of stock market crash in 1929
Black Tuesday

Far reaching tax placed on imports – made it difficult for U.S. companies to sell products abroad
Hawley-Smoot Tariff

Radio addresses on the state of national affairs given by FDR
Fireside Chats

We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy Laissez faire Idea that government should not interfere in the economy Hoovervilles Popular name for shanty towns built by …

We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy Roaring Economy to Great Depression It made the economy weaker. What effect did the use of credit have on …

We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy 1929 What year was there a major stock market crash? There is a lot of economic uncertainty. Credit works …

We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy 1. Who was the “do nothing” President? Calvin Coolidge 2. The “business of the American people is business” was …

We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy the day of the stock market crash october 29th, 1929 black tuesday another name for the periodic expansion & …

We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy Black Tuesday In October 1929, this is the day the stock market crashed, signaling the start of the Great …

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