Vocabulary
Dollar value of "stuff" produced in a country in 1 year.
What is GDP
Stock market crash; overproduction; bank failures; too much buying on credit.
What is the Great Depression?
The winner by a large margin of the presidential election of 1932.
Who is Franklin Delano Roosevelt?
President Roosevelt and Congress signed into law an unusually high number of laws.
What is the First Hundred Days?
Name two states mostly affected by the Dust Bowl.
Texas, Oklahoma, Kansas, New Mexico, Colorado
The central banking system for the US which sets money policy.
What is the Fed
When most depositors lose confidence in their bank at the same time and rush to withdraw their deposits.
What is a bank run?
This is the president that many Americans blamed for the problems of the Great Depression.
Who is Herbert Hoover?
A series of laws and government organizations that FDR created to help lift the country out of the Great Depression.
What is the New Deal?
What is the most important function of banks in Capitalism?
What is loaning money
Going out of business for being unable to pay off debts.
What is bankruptcy
The date of Black Tuesday.
What is Oct. 29, 1929
Makeshift towns of homeless people living in cardboard shacks; named after the president that many Americans blamed for their economic troubles.
What are Hoovervilles?
Employed young single men to work on public works projects.
What is the (CCC) Civil Conservation Corps?
People panicked and tried to unload their stocks.
What is one reason for the Stock Market crash
Hoping to sell an asset (stock) if the price increases.
What is speculation
This is caused by companies producing more than people can buy.
What is overproduction
Radio speeches made to reassure the public.
What are fireside chats?
Which of these was not a goal of the New Deal?
A. Reduce national debt
B. Reforms to prevent future depressions
C. Reduction of national debt
C. Reduction of national debt
Which groups were the first to lose jobs during the Depression?
What is Minorities and Women
Buying stock or an asset with little money down.
What is on margin
This where people would have to go if they wanted food and they could not afford to buy it themselves.
What are bread (soup) lines
FDR'S famous quote in his inaugural address where he was reassuring the American public that they could make it through the Great Depression?
What is "The only thing we have to fear is fear itself."
What percent of people were unemployed at the height of the Depression?
What is 25%
Name at least two programs from FDR'S "Alphabet Soup".
SECURITIES AND EXCHANGE COMMISSION (SEC), FEDERAL HOUSING AUTHORITY (FHA), Civilian Conservation Corps (CCC), Civil Works Administration (CWA), Social Security Administrations (SSA), NATIONAL YOUTH ADMINISTRATION (NYA), NATIONAL LABOR RELATIONS BOARD (NLRB)