Great Depression
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- What is the best description of the Great Depression?
- It was a period of high unemployment rates.
- Farmers who lived in the Dust Bowl were often forced to
- Auction off their farms, become migrant workers, or accept government aid.
- What was the Tennessee Valley Authority (TVA)?
- Built dams to provide cheap electric power to seven southern states, set up schools and health centers.
- What was the Crash of 1929?
- A plunge in stock prices that was the first event of the economic depression.
- Senator Huey Long's motto "Share Our Wealth" probably did not appeal to ?
- the wealthy
- Some of the probable causes of the Great Depression were . . .
- high tariffs that hindered the New Deal program; overspeculating in the stock market; failure of the Federal Reserve to help prevent the collapse of the banking system
- One important change resulting from the New Deal was that it
- Increased the government's responsibility for social welfare
- What was polio?
- A crippling disease that disabled FDR and forced him to walk with braces or ride a wheelchair.
- What were the public works projects?
- Hoover lent money to states, cities, and towns to build public resources.
- The Social Security program provides for
- Pensions for the lederly, disabled people, and dependent children
- Workers were hired to work for federal works programs to build . . .
- Government buildings.
- What was the name of President Roosevelt's program to help provide relief during the Great Depression?
- New Deal.
- What was the Federal Deposit Insurance Corporation (FDIC)?
- Insured savings accounts in banks approved by the government.
- Who was President at the beginning of the Great Depression?
- Herbert Hoover
- What was a bank holiday?
- A temporary shutdown of all banks ensuring that they were in good shape before they reopened.
- What was the National Recovery Administration (NRA)?
- Enforced codes that regulated wages, prices, and working conditions.
- What is speculation?
- Buying and selling stocks in hope of making a quick profit
- What actions did farmers take to protest the "sell off" of their farms?
- Farmers destroyed theri crops rather than take them to market.
- Which program had the biggest impact on the banking system?
- Federal Deposit Insurance Corporation
- What was the Social Security Act (SSA)?
- Set up a system of pensions (retirement) for the elderly, unemployed and disabled
- What is true concerning American spending on stocks between 1925 and 1930?
- Borrowing increased as more stocks were purchased.
- What were the Hundred Days
- Time period when many new bills passed with little debate from Congress.
- What was the Civilian Conservation Corps (CCC)?
- Provided jobs for young men to plant trees, build bridges and parks, and set up flood control projects.
- What was the Works Progress Administration (WPA)?
- Employed men and women to build hospitals, schools, parks, and airports, employed artists, writers, and musicians
- Senator Huey Long's motto "Share Our Wealth" probably did appeal to ?
- farmers, poor, unemployed
- What happened on Black Tuesday?
- Investors sold 16.4 million shares for much lower than they cost one month earlier.
- The government provided assistance to the workers during the depression by
- encouraging labor unions and helping farmers
- What was the Bonus Army?
- They were WWI veterans who marched on Washington to demand the money that was promised to them for wartime service.
- What were fireside chats?
- Radio talks when the President explained his policies in a warm friendly style.
- What finally brought the Great Depression to an end?
- World War II
- What was the New Deal?
- A group of programs that were intended to fight the Depression.
- Roughly what percentage of workers were unemployed during the Great Depression?
- 25%
- During the 1920s, farmers' income . . .
- declined due to overproduction
- What is buying on margin?
- Paying a small amount of the stock price and borrowing the rest