Money
Deficit Spending
The name of the day the stock market crashed.
Black Tuesday
Who were the two presidents during the depression? Full names
Herbert Hoover and Franklin Delano Roosevelt
What did the Germans do when France took their mines and factories?
They went on strike
Name of FDR's radio broadcasts to the public
Fire side chats
How do banks make money?
They buy and sell stock using your money.
Shanty towns created after people lost their jobs and homes were nicknamed what?
Hooverville's
What was a major difference between Europe in 1914 vs 1919?
A lot more countries
Why did unemployment in 1933 start to drop, and keep going down, in Germany?
The Nazis took power.
What were the 3 R's?
Relief, Recovery, Reform
What is this process called: business doesn't make money -> people lose jobs -> people have no money -> can't buy things?
"Vicious" circle/cycle
What were 2 reasons farmers struggled during this time?
Industrialization and Dust Bowl
What effect did the Great Depression have on the colonies?
Europeans couldn't afford to buy crops, colonies had no money coming in.
They were loaning money to European countries so they could rebuild
How many new deal laws did FDR pass in his First Hundred days?
What organization in the government makes sure trading in the stock market is fair and legal?
Securities and Exchange Commission (SEC)
When a/the stock market crashes, what do investors immediately do? (Hint: it's not "lose their job")
"Run on the banks" (take all their money out)
Why did the Soviet Union survive the worldwide depression?
Because they were a command economy, so the government made all financial decisions, not banks & businesses
What was a consequence of Germany's hyperinflation on the common public?
Starvation and malnutrition
Name 2 of the 5 different parts of the New Deal (the bubble map from the notes, if you remember)
Social security, increased rights for labor, federal work programs, environmental improvement programs, farm assistance programs
What are 2 financial things Hoover did to try to fix the depression? (Hint: there are 3)
Smoot Hawley Tariff
Loans to businesses
Cut taxes
What 3 characteristics/actions in the Roaring Twenties eventually led the country into a depression?
Too many goods produced, not being bought
People overspent, lots of consumer debt
Banks were giving out unsafe loans
Farms were in trouble, falling prices
Businesses made cuts and laid off employees
Laissez-faire
What were the 3 main reasons for Germany's suffering discussed in the notes?
Humiliation/resentment
War Payments
Loss of territory
Name 3 agencies created by the New Deal (that we talked about, not Google'd)
TVA CCC WPA SEC AAA FDIC
SSA (social security) NRA