US History Great Depression 1 – Flashcards
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During the 1920s, the net income of the wealthiest one percentage?
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75%
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During the 1920s, what was the minimum annual income required for a family in the United States to maintain a decent standard of living?
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$2,500
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Buying on Margin
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paying a small percentage of a stock's price as a down payment and borrowing the rest
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Why was October 29, 1929 known as Black Tuesday?
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Prices in the stock market plunged and shareholders scrambled to sell their stock.
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What event signaled the beginning of the Great Depression?
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The crash of the stock market signaled the beginning of the Great Depression.
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By 1933, how many American banks had failed?
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11,000 of 25,000 banks failed.
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What was the unemployment rate in 1933?
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The unemployment rate in 1933 was 25%.
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What act of congress established the highest tariff in U.S. history?
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The Hawley-Smoot Tariff Act established the highest tariff in U.S. history.
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Why did shantytowns often spring up in urban areas in the 1930s?
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People lost their jobs and were evicted from their homes.
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Life in rural areas during the Great Depression was hard, but rural people had one major advantage over urban people- what?
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Those living in rural areas were able to grow their own food for their families.
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The region of the USA hit the hardest by the drought of the 1930s was called the:
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Dust Bowl
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How many American schools had been closed by 1933?
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2,600 schools
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Who was President when the stock market crashed in October 1929?
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President Herbert Hoover
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Which President authorized the construction of the Boulder Dam?
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President Hoover
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What was a "Hooverville"?
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Shantytowns (towns made of cardboard and trash) were called hoovervilles because people blamed Hoover for the economic frailty of the U.S..
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What was President Hoover's "most ambitious economic reform"?
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Reconstruction Finance Corporation
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What was the goal of the Bonus Army in 1932?
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The goal of the bonus army was to receive their money (that they had been promised) as well as speak to the president. Neither requests were upheld.
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Who was elected President in the election of 1932?
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President Franklin D. Roosevelt
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What were the three main goals of FDR's "New Deal"?
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1. Relief for the needy
2. Economic Recovery
3. Financial Reform
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How long after becoming President did Roosevelt wait before beginning to implement his "New Deal"?
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He did not wait at all and in fact spent the first 100 days passing acts and laws.
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What New Deal agency was created by the Glass-Steagall Act of 1933?
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FDIC- Federal Deposit Insurance Corporation
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What New Deal agency was created in 1934 to regulate the stock markets?
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SEC- Securities and Exchange Commission
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How did the AAA "encourage" farmers to not plant so many crops?
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They paid farmers to under plow.
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What New Deal agency was created to provide work for young men 18-25?
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CCC- Civilian Conservation Corps.
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What New Deal agency built 40,000 schools and paid the salaries of 50, 000 school teachers?
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CWA- Civil Works Administration
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What New Deal agency's aim was to promote recovery by interrupting the trend of wage cuts, falling prices, and layoffs?
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NRA- National Recovery Administration
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What New Deal agency granted home loans to homeowners to prevent foreclosure?
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HOLC- Home Owners Loan Corp.
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Deficit Spending
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Spending more money than the government receives in revenue.
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What two New Deal programs were declared unconstitutional by the Supreme Court in 1935 and 1936?
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NIRA and AAA
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Louisiana governor Huey Long, a critic of FDR and possible opponent for the Democratic presidential nomination in 1936, didn't run for president in 1936- why not?
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He was assassinated.
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What was the focus of John Steinbeck's novel, The Grapes of Wrath?
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The experience of a farmer and his family during the Great Depression.
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What New Deal agency employed professional, artists, playwrights, actors, built airports, schools, roads, etc.?
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WPA- Work Progress Administration
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What New Deal agency was created to provide jobs for high school and college students?
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NYA- National Youth Administration
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What New Deal law, passed in 1935, guaranteed collective bargaining rights to workers?
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Wagner Act
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What 1938 New Deal law established a minimum wage , a minimum age for work, and a maximum work week?
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Fair Labor Act
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What New Deal agency created old-age insurance for retirees, unemployment insurance and aid to families with dependent children?
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Social Security Act
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Who was the first woman cabinet member in American History?
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France Perkins
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Who resigned he membership in the Daughters of the American Revolution when Maria Anderson was denied the use of the Constitution Hall for a concert because she was African-American?
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Eleanor Roosevelt
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FDR was reluctant to commit himself to full civil rights for African-Americans- why?
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He was afraid of upsetting white Democratic Voters in the South.
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How was the sit down strike different from other types of workers strikes?
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The people were not violent and simply sat and did nothing.
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By the end of the 1930s, what percentage of Americans went to a movie once a week?
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65%
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Why were some radio programs called "soap operas"?
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They were sponsored by Soap companies.
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In his famous work, American Gothic, who did artist Grant Wood use as his models?
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His sister and a dentist.
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What was the subject of James Agee's book Let Us Now Praise Famous Men?
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The dignity and strength of men who lived through the difficult times of the Great Depression.
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What was the federal deficit in the fiscal year 1934?
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2.9 billion
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The FDIC, a NEw Deal agency, originally guaranteed bank deposits up to $5,000- what's the current limit?
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100,000
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The TVA was a New Deal agency created to help the economic development of what part of the United States?
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Tennessee Valley Areas
