Great Depression 1
What was the spark of the Great Depression?
The stock market crash
What area of the country did the Dust Bowl affect?
The Great Plains
What ended the Great Depression?
World War II
What was the "Bank Holiday"?
Closed ALL banks/ 4 day “Bank Holiday”
Emergency Banking Relief Act- Passed by Congress, allowed only sound banks to reopen, the rest remained closed
What was the CCC
Civilian Conservation Corps
What 2 underlying issues led to the Great Depression?
Overproduction and Bank Closures
Result of Black Tuesday
businesses went bankrupt, people lost live savings
Impact of the New Deal
tried to make economy more stable and expanded power of federal gov't
President during the beginning of the Great Depession ?
Herbert Hoover
What did the FDIC do and what do the letters mean?
Federal Deposit Insurance Corporation, protect bank deposits
What were the New Deal's actions
reopened healthy banks, protected savings, regulate stock market
Who did FDR shift his worries toward ?
Hitler
What does "buying on margin" mean
paying a small percentage of a stocks as a down payment and borrowing the rest.
What was the name people who disliked Hoover called the slums ?
Hoovervilles
What did the new deal stop
wage cuts, lay offs , child labor and minimum wage
What happen to people who used credit ?
Huge Debt
What is the date of Black Tuesday ?
October 29, 1929
How long did Great Depression last if it ended in 1940?
11 years
What act provided aid to unemployed people ?
Social Security Act
How did the Dust Bowl effect farmers ?
most migrated to California