question

bull market

answer

A period of increased stock trading and rising stock prices

question

margin

answer

Extra cost of producing one additional unit of production.

question

margin call

answer

demand by a broker that investors pay back loans made for stocks purchased on margin

question

speculation

answer

An involvement in risky business transactions in an effort to make a quick or large profit.

question

Black Tuesday

answer

A name given to October 29, 1929, when stock prices fell sharply.

question

October 24 AKA Black Thursday

answer

The day the market plummeted further than October 21.

question

bank run

answer

A situation in which many depositors simultaneously decide to withdraw money from a bank

question

installment

answer

A payment plan that allows customers to make payments at set intervals over a period of time until the total debt is paid

question

Hawley-Smoot Tariff

answer

charged a high tax for imports thereby leading to less trade between America and foreign countries along with some economic retaliation

question

hobos

answer

open-road wanderers who traveled the country by walking, hitchhiking or "riding the rails."

question

Dust Bowl

answer

..., Region of the Great Plains that experienced a drought in 1930 lasting for a decade, leaving many farmers without work or substantial wages.

question

Walt Disney

answer

Film maker, cartoonist, visionary. He developed many famous characters as well as amusement theme parks.

question

John Steinbeck

answer

American novelist who wrote "The Grapes of Wrath". (1939) A story of Dustbowl victims who travel to California to look for a better life.

question

William Faulkner

answer

United States novelist (originally Falkner) who wrote about people in the southern United States (1897-1962)

question

Grant Wood

answer

U.S. painter noted for works based on life in the midwest (1892-1942); his most famous painting is American Gothic.

question

public works

answer

1935 Created for both industrial recovery and for unemployment relief. Headed by the Secretary of Interior Harold L. Ickes, it aimed at long-range recovery and spent $4 billion on thousands of projects that included public buildings, highways, and parkways.

question

Reconstruction Finance Corporation

answer

Hoover-created gov lending bank to businesses "millionaire's loan"

question

relief

answer

Aid for the needy

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foreclosed

answer

can't make payments and the banks take your property.

question

"Bonus Army"

answer

1932 - Facing the financial crisis of the Depression, WW I veterans tried to pressure Congress to pay them their retirement bonuses early. Congress considered a bill authorizing immediate assurance of $2.4 billion, but it was not approved. Angry veterans marched on Washington, D.C., and Hoover called in the army to get the veterans out of there.

question

Works Progress Administration (WPA)

answer

Hires jobless people to build public buildings and parks.

question

Pros of Roosevelt's New Deal

answer

- Government has a duty to help all citizens. - The New Deal helped the nation through the worst days of the Great Depression. - At a time when people in other countries turned to dictators to solve problems, the New Deal saved the Nation's democratic system.

question

Con of Roosevelt's New Deal

answer

- Government should not interfere in business or in people's private lives. - New Deal spending led to increases in the national debt. - The New Deal did not end the Great Depression.

question

FDR

answer

Roosevelt during the Depression and WWII. He instituted the New Deal. He was the only president in U.S. history to be elected to four terms

question

TVA

answer

(Tennessee Valley Authority Act) Relief, Recover, and Reform. one of the most important acts that built a hyro-electric dam for a needed area.

question

Civilian Conservation Corps (CCC)

answer

imployed millions of young men to plant trees and improve the environment during the Great Depression

question

Social Security

answer

Any government system that provides monetary assistance to people with an adequate or no income

question

The three R's (Relief, Recovery, Reform)

answer

Relief, Recovery, and Reform; FRD tried to address the Great Depression

question

Causes of the Great Depression

answer

- Factories and farms produce more goods than people can buy. - Banks make loans that borrowers cannot pay back. - After the stock market crash, many businesses cannot find people who will invest in their growth.

question

Effects of the Great Depression

answer

- Many banks fail. - Many businesses and factories fail. - Millions of Americans are out of work. - Many are homeless and hungry. - Families break up and people suffer

question

buying on margin

answer

practice that allows people to buy stock with a down payment of a portion of the value

question

Works Progress Administration (WPA)

answer

Hires jobless people to build public buildings and parks.

question

National Recovery Administration [NRA]

answer

government agency set up during the Great Depression to enforce new codes designed to stabilize industry

question

Dust Storm

answer

region in the central Great Plains that was hit by a severe drought

question

deficit spending

answer

1. spending more money than it collects in taxes (this results in government debt)

question

Social Security Act

answer

1. gives money to retirees, the unemployed, people with disabilities, and families with dependent children

question

Laissez Faire Policy

answer

Hands off. No government intervention in business. Free market/free trade

question

Hoover during the Great Depression

answer

believed in volunteer efforts by business and little government intervention, neither helped the Depression.

question

FDR during the depression

answer

created the new deal and systems that helped boost the economy and expand the government.

question

changes in government during the Great Depression and New Deal era

answer

Federal government was greatly expanded during the Depression, making great efforts to help the local governments and its citizens throughout the new deals, social security, fdic, etc.

question

How depression ended

answer

WW2 started-European countries needed jeeps and other goods and economy increased and men went to war after Pearl Harbor which created jobs.

question

Conservative Thoughts during the 1930's

answer

Provide tax relief, loans, and encouragement ot businesses. Discourage federal aid to the poor. Instead, encourage private charities and local and state governments to organize and provide poverty relief. Balance the budget to maintain financial stability. Increase tariffs (taxes) to protect American businesses from foreign competition.

question

Liberal thoughts during the 1930's

answer

Increase taxes on the income of the wealthy. Provide direct federal relief to the poor. Make a massive federal commitment to public works to provide jobs and encourage economic growth. Provide aid to farmers in the form of loans and payments to take crops out of production until prices for agricultural goods stabilize.

question

Emergency Banking Relief Act

answer

Within one month, the government would make 100 banks go back in business

question

How did Roosevelt gain support?

answer

by using fireside chats

question

Securities and Exchange Commission (SEC)

answer

Limited fraud in the stock market

question

Federal Deposit Insurance Corporation (FDIC)

answer

Gave insurance to banks

question

How did FDR try to eliminate debts?

answer

Buying up home loans and loaning money to farmers to pay their mortgages

question

Relief

answer

Fix unemployment and poverty

question

Recovery

answer

Bring back faith in the banks and economy

question

Reform

answer

Fix the problems that caused the Great Depression

question

Bank Holidays

answer

Closing banks to stop people from taking money out

question

Bank runs

answer

People were running to banks to take their money out before the bank collapsed

question

How many people were out of jobs?

answer

1 out of 4

question

Progressives

answer

Government should be involves in the economy

question

What was important about FDR's 1st 100 days in office?

answer

15 new laws were made to fix many problems, every president since has been compared to him

question

What were the 2nd 100 days?

answer

Gave Americans security

question

Agricultural Adjustment Administration (AAA)

answer

Paid farmers to not produce so much food, that way the prices would rise

question

National Industrial Recovery Act

answer

set hours, wages, and prices for workers

question

What is Keynsain Economics?

answer

spend more to fix the economy

question

Federal Emergency Relief Association (FERA)

answer

Gave money to states and towns to help with the Great Depression

question

Public Works Administration (PWA)

answer

Helped construction workers get jobs doing public projects (highways, bridges, sewers)

question

Civil Works Administration (CWA)

answer

Men and women paid by federal government to do public projects

question

American Liberty League

answer

formed by conservative business leaders to oppose the new deal programs

question

What is the purpose of the FDIC?

answer

To provide insurance to the banks

question

What was the SEC

answer

Regulate the stock market

question

Criticisms of the New Deal

answer

left wing: Not enough government involvement, taxes should be places on the wealthy, government should control the banks

question

Who was Huey Long?

answer

decided that no person can have more than a few million dollars and that you have to give the rest of your money to the government

question

The National Recovery Act

answer

gave government power to place regulations on state businesses and declared unconstitutional because that was the job of congress, not the president

question

The Court Packing Plan

answer

Roosevelt's new bill stated that 1. He gets to appoint a new judge of his choosing for every judge that had reached the age of 70 and didn't retire 2. The bill would allow FDR to add 6 new judges, all liberal, who would support him

question

The Roosevelt Recession

answer

FDR's court plan was not approved by congress and he lost popularity, the supreme court did lighten up on the New Deal plan

question

1937

answer

Unemployment goes back up when Roosevelt cuts PWA and WPA and slows gout spending

question

Efforts of First Lady Eleanor Roosevelt

answer

fought for social reform for women and African Americans

question

Was the New Deal a good deal?

answer

Yes, because the national debt went down, the federal government became more powerful in the lives of people and businesses, people viewed the government as their protector in times of trouble

question

For the first time,

answer

the government played a role in helping the citizens

question

People began to..

answer

expect the government to be there to help them instead of laissez Faire.

question

The New Deal did not..

answer

end the Great Depression, but changes the role and size of the federal government (government runs the whole country, not just state)

question

The Dust Bowl

answer

Great Plains struck by a massive draught, top soil blown away and wheat became unable to grow, unable to farm, many head west to work elsewhere

question

Causes of the Great Depression

answer

- Factories and farms produce more goods than people can buy. - Banks make loans that borrowers cannot pay back. - After the stock market crash, many businesses cannot find people who will invest in their growth.

question

Effects of the Great Depression

answer

- Many banks fail. - Many businesses and factories fail. - Millions of Americans are out of work. - Many are homeless and hungry. - Families break up and people suffer

question

on margin

answer

practice that allows people to buy stock with a down payment of a portion of the value

question

Great Depression

answer

worst period of economic decline in United States history, beginning in 1929

question

bankrupt

answer

unable to pay debts

question

relief program

answer

government program to help the needy

question

soup kitchen

answer

place where food is provided to the needy at little or no charge

question

public works

answer

projects built by the government for the public

question

Hooverville

answer

group of shacks in which homeless lived during the Great Depression

question

Bonus Army

answer

veterans who marched to Washington in 1932 to demand immediate payment of a World War I bonus

question

Works Progress Administration (WPA)

answer

Hires jobless people to build public buildings and parks.

question

Truth-in-Securities Act

answer

Regulates the stock market.

question

bank holiday

answer

closing of banks four days during the Great Depression

question

Fireside Chat (p.754)

answer

radio speech given by Franklin D. Roosevelt while in office

question

New Deal

answer

program of President Franklin D. Roosevelt to end the Great Depression

question

Civilian Conservation Corps [CCC] (p.754)

answer

New Deal program that hired unemployed men to work on natural conservation projects

question

Tennessee Valley Authority [TVA] (p.756)

answer

New Deal program that built dams to control flooding and produce cheap electric power

question

Pros of Roosevelt's New Deal

answer

- Government has a duty to help all citizens. - The New Deal helped the nation through the worst days of the Great Depression. - At a time when people in other countries turned to dictators to solve problems, the New Deal saved the Nation's democratic system.

question

Cons of Roosevelt's New Deal

answer

- Government should not interfere in business or in people's private lives. - New Deal spending led to increases in the national debt. - The New Deal did not end the Great Depression.

question

Hardships faced by women

answer

faced difficulty finding jobs; men usually hired before women.

question

Hardships faced by African Americans

answer

often first to lose jobs; faced continued discrimination; a few leaders became advisers to President Roosevelt.

question

Dust Bowl

answer

region in the central Great Plains that was hit by a severe drought

question

migrant worker

answer

person who moves from one region to another in search of work

question

civil rights

answer

the rights due to all citizens

question

Franklin D Roosevelt

answer

The 32nd Preseident and led the United States through the Great Depression and World War II

question

Herbert Hoover

answer

The 31st president of the United States (1929-1933), whose term was notably marked by the stock market crash of 1929 and the beginnings of the Great Depression

question

Okies

answer

migrated person from oklahoma

question

Installment Buying

answer

A system by which a buyer pays for a thing in regular installments while enjoying the use of it.

question

What did the Harlem Renaisance do?

answer

Influenced pop culture

question

Name the 6 things that people valued during the roaring 20's

answer

music, art, dance, fashion/style, fads

question

Red Scare

answer

Animage database created by Leo Robert Klein. It focuses on the situation in this country immediately following WWI.

question

Land Speculators

answer

Someone who buys land just to sell it off at a higher price and not for any other reason (did not intend to use it).

question

Flappers

answer

Women that had unconventional style and behavior.

question

Social Security

answer

Support the ederly

question

Stock Market

answer

A general term used to describe all transactions involving the buying and selling of stock shares issued by a company.

question

All of the following characterize the stock market of the 1920s EXCEPT __________. A) inflated stock prices B) a bull market C) stock purchases on margin D) selling curbs

answer

d. selling curbs

question

Why did the stock market crash create a banking crisis? A) because many banks had invested depositors' funds and had loaned money to speculators B) because foreign investors, who had invested heavily in the stock market, were defaulting on their loans C) because people were not interested in obtaining loans after the stock market crash D) because the government raised interest rates after the crash

answer

A) because many banks had invested depositors' funds and had loaned money to speculators

question

What federal decision kept American manufacturers and farmers from selling high inventories to foreign countries during the Depression? A) the decision to maintain low interest rates throughout the 1920s B) the decision to raise interest rates after the Depression hit C) the decision to raise tariffs in 1930 D) the decision to encourage economic expansion throughout the 1920

answer

C) the decision to raise tariffs in 1930

question

What were Hoovervilles? A) communities of makeshift shacks constructed on unused or public lands B) hobo camps that were situated near rail yards C) locations where the homeless could receive a free handout of food D) the dry, uncultivated fields of the Great Plains

answer

A) communities of makeshift shacks constructed on unused or public lands

question

Why did the Okies leave their farms and head to California during the Great Depression? A) They wanted to establish farms in the mild California environment. B) They wanted to take advantage of California's relief programs. C) Most had relatives in California who could help them through the Depression. D) They hoped to find agricultural work in California.

answer

A) They wanted to establish farms in the mild California environment.

question

Which painter in the 1930s paid tribute to farmers while gently making fun of their severity? A) Margaret Bourke-White B) Dorothea Lange C) Henry Luce D) Grant Wood

answer

B) Dorothea Lange

question

Which of the following summarizes President Hoover's approach to the nation's economic problems? A) It is the responsibility of government to ensure the financial health of the nation. B) Relief should come through voluntary actions and state and local programs, not through federal intervention. C) If the federal government takes aggressive action to put people to work, recovery will eventually follow. D) A program of deficit spending will provide immediate relief and economic recovery.

answer

D) A program of deficit spending will provide immediate relief and economic recovery.

question

Why didn't Hoover's programs revive the economy? A) His programs did not provide sufficient funding to impact the nation's problems. B) His programs were overly ambitious. C) His deficit spending delayed economic recovery. D) His new taxes hurt businesses that were already struggling.

answer

C) His deficit spending delayed economic recovery.

question

Hoover tried to ease the money shortage by ________ A) passing a bill to put more currency in circulation B) making loans directly to impoverished families C) making sure that banks had funds to loan to corporations D) greatly increasing government spending

answer

B) making loans directly to impoverished families

question

The Bonus Army marched on Washington hoping to pressure Congress into________. A) raising crop prices B) passing legislation authorizing early payment of money for the veterans' World War I service C) increasing taxes on the wealthy D) providing relief for the millions of homeless and unemployed

answer

B. passing legislation authorizing early payment of money for verterns' WWI service

question

What events turned the Great Plains into a Dust Bowl?

answer

Drought, over farming, winds

question

What subjects did artists, photographers and writers emphasize in the 1930s?

answer

Life around them including homelessness, unmeployments, poverty, msfortune. Steinbeck wrote Grapes of Wrath about migrants farmers leaving the plains to work in California.

question

Why did Hoover oppose federal programs to help with the great Depression?

answer

Thought only state and local governments and charities should handle aid to people. But he did sign the Emerency Relief and Construction act giving loans to people.

question

Before winning the presidential election, Franklin D. Roosevelt had served in all of the following positions EXCEPT __________. A) governor B) state senator C) assistant secretary of the navy D) vice president

answer

D) vice president

question

ECT Which of the following BEST describes why bank runs greatly increased just before Roosevelt took office? A) Many people wanted to convert their savings to gold in case Roosevelt abandoned the gold standard. B) Many people were afraid that Roosevelt's progressive policies would worsen economic conditions. C) Many people believed they would need the cash if the Depression deepened. D) Many people wanted the cash to invest in the stock market before stock prices rose again.

answer

A) Many people wanted to convert their savings to gold in case Roosevelt abandoned the gold standard.

question

Roosevelt based his New Deal programs on ideas that came from __________. A) the platform of the Democratic Party B) government programs that had been effective in past Depressions C) his diverse group of advisors D) the Supreme Court justices

answer

C) his diverse group of advisors

question

Some advisors in the Roosevelt administration supported the regulation of industry and labor because __________. A) they believed that regulations would reduce competition in the marketplace B) they thought regulations would keep competition fair C) they believed that the government should run all phases of the economy D) they wanted to punish the business leaders that they blamed for the Depression

answer

B) they thought regulations would keep competition fair

question

Which First New Deal programs hired single men, age 18 to 25, for natural resource conservation? A) Federal Emergency Relief Administration B) Civil Works Administration C) Civilian Conservation Corps D) Public Works Administration

answer

C Civilian Conservation Corps

question

The American Liberty League opposed the New Deal because __________. A) Roosevelt had begun deficit spending to pay for the New Deal's programs B) Roosevelt's programs did not require wealthy Americans to share their wealth C) the New Deal did not call for the nationalization of the banking system D) the New Deal did not protect the elderly

answer

A) Roosevelt had begun deficit spending to pay for the New Deal's programs

question

The Social Security Act established the principle that __________. A) the federal government is responsible for the economic welfare of those who are unable to work B) the federal government has the legal right to impose payroll taxes on workers and employers C) the Supreme Court cannot interfere with contributors' legal right to collect benefits D) workers should stop working at the age of 65

answer

A) the federal government is responsible for the economic welfare of those who are unable to work

question

Roosevelt sent a bill to Congress that would increase the number of Supreme Court justices because __________. A) he thought that the justices were overworked B) he wanted to destroy his political enemies C) he wanted more ethnic diversity in the Court D) he wanted the attitudes of the American people to be more fairly represented

answer

B) he wanted to destroy his political enemies

question

All of the following weakened Roosevelt's support during his second term EXCEPT __________. A) his decision to cut federal spending B) his court-packing plan C) the economic recession of 1937 D) his support of the National Housing Act

answer

D) his support of the National Housing Act

question

The New Deal brought about a new public attitude that government __________. A) had a duty to maintain safeguards that protected citizens against economic disaster B) played a minor role in the daily lives of individuals C) should participate in deficit spending D) needed to maintain regulations on industry, labor, and agriculture even during times of prosperity

answer

A) had a duty to maintain safeguards that protected citizens against economic disaster

question

Where did people live who lost their homes?

answer

Shantytowns or Hoovervilles

question

One of the major problems with the stock market in the laste 1920s was the number of people who bought stock on....

answer

on margin, with borrowed money

question

Which of the following is the root cause of the depression? a. prohibiting the sale of alchohol b. giving women the right to vote c. uneven distribution of income d. the end of the federal control of banks

answer

c. uneven distribution of income

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