Key Terms
The term for the day the stock market crashed in 1929
What is Black Tuesday
The reason FDR did not help women in the New Deal
What is he wanted to focus on men having jobs
Name one non Alphabet Soup program created by FDR (think banking reform)
What is the FDIC, SEC, FLSA, SSA
What happened to many banks after the stock market crash
What is many closed due to lack of funds
The term for the arrangement to buy now and pay later
What is credit?
Economic condition that caused the Great Depression that is not necessarily bad, but was done at risky levels in the 1920s.
What is buying on credit?
Created in 1932, ensures your money in case of a bank failure.
What is the FDIC?
The cause of the quick bank failures right after Black Tuesday
What are bank runs?
Little towns consisting of shacks during the Great Depression
What is Hooverville/Shantytown
Bad farming techniques, "Okies" fleeing to California
Social Security gives money to these three groups?
What are retired workers, disabled people, and dependents of deceased workers?
Groups of people who were left out of New Deal programs including Social Security
What is the unemployed, domestic servants, cash farm tenants, and sharecroppers, all of which were more likely to be Black?
The time when the economy plummeted and unemployment skyrocketed
What the Federal Reserve Bank of NY did to cause the Stock Market Crash
What is increased interest rates, making it harder for people to take out loans.
FDR visited people employed by this project who were planting trees and fighting forest fires
What is the CCC
The economic cause of this chain reaction: Prices drop, businesses cut costs by laying off workers. People without jobs can’t afford to buy anything, so inventories build up and prices drop more.
What is deflation?
Takes 6% from your paycheck and your employer pays 6%
What is Social Security
Causes of the Stock Market Crash, Causes of the Great Depression, and how they are related
Buying with credit - Stock Market Crash - bank runs - bank failures - deflation - lay offs - unemployment - great depression
Two "alphabet soup" projects that employed people to improve infrastructure
Destroyed the livelihoods of many farmers living in the Great Plains
What is the Dust Bowl?