question

What year did the stock market crash?

answer

1929

question

Time of great economic hardship that resulted from the false prosperity of the 1920s

answer

Great Depression

question

New deal legislation permanently changed the relationship of the government and the economy

answer

Franklin D Roosevelt

question

Longer and more entrenched recession (a period in which real GDP falls for at least 2 quarters - 6 months)

answer

Economic depression

question

Deemed inherent to capitalist/ free market economies, it's a cycle of economic growth and contraction

answer

Business cycle

question

Causes of the Great Depression

answer

Income gap, overproduction of goods, stock market speculation, stock market crash, government policy, bank failures, and a decline in worldwide trade as a result of ww1

question

Easily available and financed their purchase of new household and luxury goods

answer

Credit

question

As poverty increased

answer

Demand for goods decreased

question

Decreased consumer purchasing led to

answer

A glut in business inventories

question

When businesses cut jobs/ production

answer

There was greater unemployment and lower wages

question

And unregulated stock market and seemingless endless opportunity for profit in the 1920s stock market

answer

Stock market speculation

question

An investment option that allowed ordinary people to invest in the stock market

answer

Buying on margin

question

Speculation and buying on margin had seriously over inflated the price of most stocks

answer

Stock market crash

question

When the market lost confidence in the stocks

answer

Prices plunged well below the value

question

The great crash

answer

Black Tuesday (October 24, 1929)

question

Investors worried about their deposits and attempted to withdraw their money

answer

Bank runs

question

Created an atmosphere of mutual distrust and antipathy and lessened Europeans ability to purchase goods

answer

World war 1

question

Compensation in money or materials payable by a defeated nation for damages to or expenditures sustained by another nation as a result of hostilities with the defeated nation

answer

Reparation

question

What interfered with free trade between countries?

answer

High tariffs

question

The Great Depression led government away from what policy?

answer

Laissez faire

question

The policy the Great Depression led the government to

answer

Regulated capitalism

question

Intended to protect u.s businesses from foreign competition, the act raised tariffs to record levels

answer

Hawley smoot tariff in 1930

question

Widespread hunger, poverty, and unemployment(25%) are examples of what?

answer

Economic effects of the great depression

question

Neighbors would save each other's property by bidding low on it at auction

answer

Penny auction

question

Veterans of ww1 that marched on Washington to request advance payment of their dues to be paid in 1945

answer

Bonus army

question

Period of severe dust storms causing major ecological and agricultural damage to american and Canadian prairie lands from 1930 to 1936

answer

The dust bowl

question

What caused the dust bowl?

answer

Severe drought, farming without crop rotation, fallow fields, cover crops or other techniques to prevent erosion

question

What were some effects of the dust bowl?

answer

Farmers couldn't maintain their operations and were forced to leave their land, some deeded their farms to creditors, others faced foreclosure by banks and some had to leave their farm to search for work

question

Last hired and first fired

answer

African Americans

question

Artwork, music and literature during this time reflected what?

answer

The common man

question

Who wrote The grapes of wrath

answer

John Steinbeck

question

What were many art projects sponsored by?

answer

The new deal

question

Famous photographer during the Great Depression

answer

Dorothea Lang

question

Women were largely excluded from what's provisions and programs?

answer

The new deal

question

What did FDR do before he became president?

answer

Governor of New York

question

Who was FDRs eyes and ears?

answer

Eleanor Roosevelt

question

What ended prohibition?

answer

21st amendment

question

What happened to the Hawley smoot tariff?

answer

It backfired and led to decreasing levels of international trade

question

Who believed that it wasn't the governments role to fix people's problems?

answer

President Herbert Hoover

question

What was franklin d Roosevelt known as when he entered office?

answer

A reformer

question

Encouraged americans to regain their confidence in government and financial institutions over radio

answer

Fireside chats

question

Ushered in an unprecedented era of government "relief, recovery, and reform" legislation

answer

New Deal

question

When were many of FDRs laws passed?

answer

First Hundred days

question

Immediate action taken to halt the economy's deterioration

answer

Relief

question

Closed insolvent banks and allowed only solvent banks to reopen (relief)

answer

Emergency banking act

question

Insured savings of depositors up to a certain amount

answer

Federal deposit insurance (FDIC)

question

Regulated the trade of stocks and bonds (reform)

answer

Securities and exchange commission (SEC)

question

Provided a social safety net for the elderly and disabled (reform)

answer

Social security administration

question

Includes the social security act and the Wagner act

answer

The second new deal

question

Guaranteed rights of union laborer including collective bargaining

answer

The Wagner act

question

Largely through the construction of dams, it brought electricity to many rural areas in the south

answer

Tennessee valley authority

question

The Supreme court ruled many new laws.....

answer

Unconstitutional

question

His supporters of government intervention participated in what societies with what goal?

answer

Huey long/ share our wealth societies/ goal of redistributing private property in a more equitable manner

question

The Great Depression of the 1930s was truly a....

answer

Global economic catastrophe

question

Countries were more greatly connected through....

answer

Economic interdependence

question

What did the Great Depression encourage?

answer

Economic protectionism

question

Political philosophy that emphasizes the importance of the nation or an ethnic grou, and the supreme authority of the leader over the individual

answer

Fascism

question

buying stock, land, businesses, etc. in hopes of making a profit; high-risk is implied https://o.quizlet.com/6-tOFE7Y4OULMzuf9itU5w_m.png

answer

speculation

question

only paying a small percentage of the price to purchase stocks and borrowing the rest of the money; credit was easily available (1920s) through brokerage institutions to buy stocks on margin https://o.quizlet.com/i/1vYN_8vGMbTGLTSpHaLkmA_m.jpg

answer

buying on margin

question

period of time where stock prices are rising (the market is going up); encourages buying; most of the 1920s were a bull market

answer

bull market

question

producing more goods than consumers are willing to purchase; results in a surplus of goods that can't be sold which drives prices down; bad for businesses

answer

overproduction/under-consumption

question

the amount of wealth held by every American (comparatively); income distribution is the same but with income instead of wealth; both were unequal among various Americans leading to the Great Depression

answer

wealth distribution

question

taxes on foreign imported goods; economically "protect" domestic goods (goods made in the U.S.) by making them relatively cheaper; restrict international trade

answer

tariffs

question

October 29, 1929; the Stock Market crash of 1929; the beginning of the Great Depression https://o.quizlet.com/-fqfnZnkZnwIEa1YgQxNUA_m.jpg

answer

Black Tuesday

question

1930; The highest U.S. tariff rates in 100 years. The high rates led to a tariff war with other nations that worsened the international depression and cut American exports and imports by more than half

answer

Smoot-Hawley Tariff

question

federal programs like we have today that help people if they have hard economic times; did not exist before the Great Depression

answer

"safety net"

question

Period of high unemployment and widespread business failure; started in America and spread to Europe; many went hungry and had to stand in "bread-lines"; many farmers lost their farms as well

answer

Great Depression

question

many banks went of business during the Great Depression because they could not meet their financial obligations; bank runs (masses of bank customers attempting to withdraw their deposits) played a part in this

answer

bank failures

question

central bank of the United States; in charge of monetary policy; made decisions that further damaged the economy (even before the Great Depression)

answer

Federal Reserve

question

many people couldn't pay their mortgages on their homes or farms so the banks were forced to seize the property and throw the people out to sell the homes and farms at auction

answer

foreclosures

question

slum settlements on the outskirts of cities during the Great Depression https://o.quizlet.com/NWvUGgDh4Q5iM10Fw-GxKg_m.jpg

answer

Shantytowns

question

throughout the 1920s farmers on the Great Plains growing crops such as wheat and corn were overproducing resulting in a drop in prices for those crops; this hurt the farmers economically

answer

decline in agricultural prices

question

dust storms on the Great Plains in the 1930s; caused by poor farming techniques and sustained drought on the Great Plains; many farmers left the Great Plains to move to the West Coast (many became migrant farmers) https://farm9.staticflickr.com/8487/8191524030_f194afe4bc_m.jpg

answer

Dust Bowl

question

derogatory name for migrant workers on the West Coast (California) who had been driven out of California by the Dust Bowl https://farm2.staticflickr.com/1294/1054179764_855bd6aa44_m.jpg

answer

Okies

question

U.S. President (1929-1933); did not support federal government making direct payments to the unemployed and needy; his limited efforts to repair the economy during the Great Depression failed to help https://o.quizlet.com/vQxI2IOHjZ8gcDKFN.kbrw_m.jpg

answer

Herbert Hoover

question

President Herbert Hoover's plan for economic recovery through emergency financing for banks, railroads, and other big businesses

answer

Reconstruction Finance Corporation

question

name for shantytowns that reflected anti-Hoover sentiments https://o.quizlet.com/i/1fnXp6yo2rYJOkZGjOIG3A_m.jpg

answer

Hoovervilles

question

1932; Unemployed veterans from World War I marched to Washington, DC, demanding the early payment of bonuses promised to them. Congress didn't pass the Bonus Bill, and President Hoover ordered the U.S. army to break up their encampment. Tanks and tear gas were used to destroy the veterans' camps. Americans were critical of these government actions under Hoover https://o.quizlet.com/i/A-XsIfNAe4vrvx7FaFjmlg_m.jpg

answer

Bonus Army

question

U.S. President (1933-1945 only pres. to serve more than 2 terms); man behind the New Deal https://o.quizlet.com/O5oW5LZKylcif54n7jDvkQ_m.jpg

answer

Franklin D. Roosevelt (FDR)

question

1933; Franklin Roosevelt's plan for getting out of the Depression, involving increased federal action to provide economic "relief, recovery, and reform"; alphabet agencies; First New Deal (1933-1935) & Second New Deal (1935-1936); some critics existed, but most Americans supported these programs https://o.quizlet.com/i/0O8agxS-2G43Mp1oRNk1vg_m.jpg

answer

New Deal

question

FDR's informal radio addresses to the public where he explained his policies in a positive, easy to understand manner https://o.quizlet.com/i/LcOJjhMFg6-YB9c9xLqk9A_m.jpg

answer

fireside chats

question

Roosevelt's first action to help the economy; closed banks to prevent bank "runs"; Emergency Banking Act was then passed and it allowed solvent banks to operate https://o.quizlet.com/3pYYEJRxK-CDXX0SV-kjYg_m.jpg

answer

Bank Holiday

question

1933; Government agency created by President Roosevelt that regulates banks and insures bank deposits

answer

Federal Deposit Insurance Corporation (FDIC)

question

1934; Agency of the federal government that regulates financial markets and investment companies

answer

Securities and Exchange Commission (SEC)

question

federal agency established in 1933 as part of the New Deal to give people meaningful work ("work relief"); employed about two million young men in outdoor jobs such as planting trees and improving the environment; the men lived in camp supervised by army officers https://o.quizlet.com/i/Rc2jWcf9X3JtMWp6eYWCFA_m.jpg

answer

Civilian Conservation Corps (CCC)

question

laws in 1933 and 1938 created to promote the recovery of farmers by limiting farm production (crops grown) to create artificial scarcity to drive prices up; also gave emergency loans at low interest rates to help farms that were facing foreclosure

answer

Agriculture Adjustment Acts (AAA)

question

federal agency established in 1933 as part of the New Deal to build dams, control flooding, and provide cheap electricity in the Tennessee River Valley area https://o.quizlet.com/FOP34btDaNy3NClGjHHNwg_m.jpg

answer

Tennessee Valley Authority (TVA)

question

federal law and agency from 1933 designed to help industry recover by reducing competition, limiting production, and increasing prices; businesses were encouraged to fix prices as well as limit the work week to 40 hours and est. a minimum wage; cooperating businesses could display blue eagle posters; later ruled unconstitutional https://farm8.staticflickr.com/7217/7374908236_3b5d793242_m.jpg

answer

National Industrial Recovery Act (NIRA); National Recovery Administration (NRA)

question

FDR switched his focus to reform after the Supreme Court struck down many of his original programs (Schechter v. the U.S. - NRA unconstitutional; AAA also ruled unconstitutional; led to "court-packing scheme")

answer

Second New Deal

question

1935 (2nd New Deal); This law protected/guaranteed workers' rights to organize into labor unions and engage in collective bargaining. The law also created the National Labor Relations Board (NLRB), providing for government investigation of unfair labor practices. https://o.quizlet.com/xYymeCBwpgFo4yYY3PrkIA_m.jpg

answer

National Labor Relations Act (Wagner Act)

question

federal agency created in 1935 as part of the 2nd New Deal to increase employment by creating new public works projects (two categories: construction and the arts); these included building: public schools, courthouses, roads, and bridges; unemployed artists, architects, writers, and musicians to create cultural works https://o.quizlet.com/i/8fKTy95vOg9Gt1cGrxhRTw_m.jpg

answer

Works Progress Administration (WPA)

question

"1935 (2nd New Deal); Provided federal financial assistance to the problems of old age and unemployment. Social Security also provided benefits to widows and fatherless children."

answer

Social Security Act (SSA)

question

Manufacturers producing more goods than they could sell

answer

Overproduction

question

Practice of making high risk investments in hopes of getting a high return

answer

Stock speculation

question

An option that allows investors to purchase a stock for only a fraction of its price and borrow the rest

answer

Buying on margin

question

Used to describe the stock market rapid falling prices

answer

Crash

question

Periods in which a nation's economy grows, then shrinks

answer

Business cycle

question

A severe economic downturn marked by a decrease in business activity, widespread unemployment, and falling prices and wages

answer

Depression

question

The tendency for a change in one market to cause changes in many other markets.

answer

Ripple Effect

question

Bad bank loans drained cash out of peoples' savings accounts; depositors later demanded their cash, which banks no longer held, caused banks go bankrupt (fail)

answer

Bank Failure

question

the percentage of the work force that is unemployed at any given date

answer

Unemployment

question

A government tax on imports or exports

answer

Tariff

question

A term used to describe makeshift homeless shelter during the early years of the Great Depression

answer

Hooverville

question

Central and Southern Great Plains during the 1930s when the region experienced drought and dust storms

answer

Dust Bowl

question

A person who goes from one place to another especially to find work

answer

Migrant

question

President FDR's relief, recovery, and reform programs designed to combat the Great Depression

answer

New Deal

question

Short term actions designed to tide people over until the economy recovers

answer

Relief

question

Designed to restore the economy by increasing incentives to produce and by rebuilding people's purchasing power

answer

Recovery

question

Aimed at remedying defects in the structure of the American economy in order to ensure that such a severe depression would never occur again

answer

Reform

question

Government-funded projects to build public facilities

answer

Public works programs

question

Something that happened in the past or that comes from someone in the past

answer

Legacy

question

Put more than 2.5 mililon young men to work restoring and maintaining forests, beaches, and parks

answer

Civilian Conservation Corps (CCC)

question

Created jobs by hiring artists, writers, and musicians to paint murals, produce plays, and create other artworks

answer

Works Progress Administration (WPA)

question

Guaranteed workers to right to form unions. Employers could not refuse to hire labor union workers, replaced by the Wagner Act after being found unconstitutional

answer

National Industrial Recovery Act (NIRA)

question

Established 1933 to raise farm prices through government financial assistance

answer

Agricultural Adjustment Act (AAA)

question

Provided workers with unemployment insurance, old age pensions, and insurance if they died early. Workers and employers each paid contributions to fund these benefits

answer

Social Security Act

question

Insures bank deposits so people will not lose money in the event of a bank failure

answer

Federal Deposit Insurance Corporation (FDIC)

question

Created to watch over the stock market, prevent fraud, and guard against another stock market crash

answer

Securities and Exchange Commission (SEC)

question

Built 21 government owned dams along the Tennessee River, controlling floods and producing electricity. Many feared it as a form of socialism

answer

Tennesse Valley Authority (TVA)

question

Highest import tax in history, passed in 1930

answer

Hawley-Smoot Tariff

question

October 24, 1929 when stock prices fell faster and faster, leading to the crash

answer

Black Tuesday

question

Protected to rights of unions to bargain collectively with their empolyers; also known as the Wagner Act

answer

National Labor Relations Act

question

President through much of the 1930s, he believed in relief, reform, and recovery programs as a means for economic recovery

answer

_President Frankliln D. Roosevelt

question

President when the stock market crashed in 1929, he believed in private charity and not government interference for economic recovery

answer

_President Herbert Hoover

question

Recorded the misery of the Great Depression through writings such as "Grapes of Wrath" and "Of Mice and Men"

answer

_John Steinbeck

question

Documented the misery of the Great Depression through photography, she was employed by the WPA

answer

_Dorothea Lange

question

Plan for recovery was to give all persons over the age of 65 a pension of $200 a month to be spent within the month

answer

_Dr. Francis Townsend

question

US Senator and former governor of Louisiana, promised to give each American family $5000 a year to be paid for by taxing the rich

answer

_Huey Long

question

Gave radio addresses to millions, calling for hte nationalization of banks and utilities, was violently anti-semetic and nativist; he was eventually silenced by the Catholic Church

answer

_Father Coughlin

question

First Lady through much of the 1930s, she served as the President's eyes and ears by traveling throughout the country; a political activist who spoke for women's rights, peace, and the poor

answer

_Eleanor Roosevelt

question

Radio addresses to the American people from President FDR where he explained his policies in simple conversational terms

answer

Fireside Chats

question

A reaction to many of his policies deemed unconsitiutional, this plan from FDR would change the number of justices on the Supreme Court to allow him greater control of appointments (1937)

answer

Court packing scheme

question

Plan to send Mexican-American immigrant workers back to Mexico to open jobs for native white workers; more than half a million workers were forcibly sent back to Mexico

answer

Mexican Repatriation Act

question

First female cabinet member, oversaw the CCC and the PWA and played a key role in the passage of important legislation

answer

_Frances Perkins

question

A time when FDR closed all of the nation's bank until they were determined to be financially sound

answer

Bank Holiday

question

Funded state and local governments to provide emergency relief, and enabled millions of people to be hired on "make-work" projects

answer

Federal Emergency Relief Act

question

Conservative group that criticized FDR's approaches to recovery; charged FDR with being a "traitor to his class" and attempting to establish a dictatorship

answer

Liberty League

question

A group of talented advisers to FDR

answer

Brain Trust

question

Agency that stimulated the housing industry by granting loans to home owners

answer

Federal Housing Administration (FHA)

question

The act of making or enacting laws

answer

Legislation

question

the excessive and risky investment in stocks, in the hopes of making money quickly. A major cause of the Great Depression.

answer

Overspeculation

question

To make fun of, to mock

answer

Satirize

question

Refers to the quality and quantity of goods and services available to people and the way they are distributed within a population

answer

Standard of living

question

A market in which the public trades stock that someone already owns; the buying and selling of stock.

answer

Stock market

Unit 6: The Great Depression And The New Deal – Flashcards

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