Great Depression
Who were the 2 presidents during the Great Depression?
Herbert Hoover and Franklin D. Roosevelt
What was the purpose of the New Deal?
To fix the economy and help people during the Great Depression
What did people think the stock market was?
A way to make quick money
What nickname was given to slums during the Great Depression?
Hoovervilles
Which organization insures bank deposits to protect against bank failure?
Federal Deposit Insurance Corporation (FDIC)
What year did the Great Depression begin?
1929
Which ended the Great Depression
The New Deal or WWII?
WWII
What was the name given for the day that the stock market crashed?
Black Tuesday
What was the percentage of unemployment during the Great Depression?
22-28%
Which organization employed young men on conservation and natural resource development projects?
Civilian Conservation Corps (CCC)
What cause the banks to fail at the start of the Great Depression?
They lent out more money than they had
Who was the president at the time of the New Deal?
Franklin D. Roosevelt
What behavior helped cause the stock market crash?
Buying stocks on margin
What would families do to help with food shortages during the Great Depression?
Which organization built dams and power plants to provide electricity, flood control, and water management?
Tennessee Valley Authority (TVA)
Which tariff significantly raised prices of imported goods, leading to a collapse in global trade?
The Hawley-Smoot Tariff
What did the three R's stand for?
Relief, Recovery, and Reform
What long term effect did the crash have on Americans view of the stock market?
People lost trust in it
How much did the US's gross national product (GNP) fall during the Great Depression?
About 50% (-45 billion dollars)
Which organization established the national old-age pension system, as well as unemployment benefits and aid for needy families and children?
Social Security Administration (SSA)
What was the golden standard?
A monetary system where the US currency was linked to a fixed amount of gold, meaning paper money could be redeemed for equal value of gold
Which law protected workers rights to join unions?
The Wagner Act
What role did the federal reserve play in the stock market crash?
Raising interest rates and failing to expand the money supply during banking panics
What was the Bonus Army marching for?
Vets arriving in Washington to support the Patman Bill
Which organization helped farmers by lowering crop supply to raise prices?
Agricultural Adjustment Administration (AAA)