FDR vs. Hoover
Which President was elected to help fix the Depression?
FDR
Location of the place where stocks are bought and sold.
Stock Market
The charge of borrowing money from the bank.
Interest
What was the government housing put in place during the Hoover Administration for those who could not afford housing?
Hoovervilles.
Insured bank deposits against bank failures, up to a certain level (also known as bank insurance).
FDIC (Federal Deposit Insurance Corporation)
This president created government housing also known as ________________________.
Hoovervilles
The money deposited in your bank account may not always be there at all times.
Bank Deposits
The amount of money an individual, family or business owes to a creditor.
Debt
Which group(s) of people were often let go over white men in terms of having and holding a job?
Women. African Americans.
Created a national system of pensions, unemployment insurance and aid to mothers with children, and created the Social Security Administration (SSA) to administer it.
Social Security Act (1935)
This president believed in a hands OFF government intervention style believing that the economy could be fixed with the generosity of the people.
Hoover
A severe long term downturn in economic activity in a country.
A depression
Represents a share of ownership of a corporation.
A stock
Give the name of ONE of the programs aimed at helping farmers.
Agricultural Adjustment Act (1933, 1938)
Tennessee Valley Authority (1933)
Rural Electrification Administration
Farm Credit Act (1933)
(any that can be explained correctly)
Introduced measures to reduce crop supply, stabilize prices and support farm incomes.
Agricultural Adjustment Act (1933, reauthorized in 1938)
This president believed in a hands ON government which increased the power of the federal government.
Investing in a product with the hopes that it will gain in value.
Speculation
A group of programs created by FDR to bring prosperity to the United States due to the Depression.
The New Deal
Name the New Deal program that aimed at helping African Americans.
Fair Employment Practices Committee (FEPC) (it wasn't until the 1941 march that was threatened in Washington that FDR passed the FEPC. Many African Americans were not eligible for the New Deal relief programs).
Gave financial aid to states to support local relief programs for the poor.
FERA (Federal Emergency Relief Administration) (1933)
What are the THREE "R"s of the New Deal?
Relief, Recovery, Reform
These TWO terms are related to supply and demand. (Examples: Farming were harvesting too many goods and people were not buying the goods as fast as the farmers were making them).
Overproduction/Underconsumption
Explain in detail, the three R's
Relief for the unemployed and the poor.
Recovery for the economy.
Reform for the financial system.
Explain how FDR cutting production of farming goods was actually beneficial for farmers?
Farmers were producing more goods than consumers were buying. Due to this, good prices naturally fell. To combat this, farmers started producing more goods to make up for the difference in price (which created even more of a supply and less of a demand). By paying farmers to decrease their supply, good prices began to increase again.
Planned river basin development based on dams and hydroelectricity.
Tennessee Valley Authority (TVA) (1933)