Definitions
the condition of wanting and needing a job but being unable to find one
Unemployment
Hoover's plan to raise taxes did not help overcome the __________
Great Depression
What caused the landowners to no longer need sharecroppers
The Farm Bill
Roosevelt asked Congress to pass a paid farmers plant....... (more or less)
less
What does NRA stand for?
National Recovery Administration
a house that is pieced together with scraps of metal, wood, and cardboard
shanty
Roosevelt promised the American People a ____________
New Deal
What did Roosevelt declare in order to stop runs on the bank?
Bank Holiday
_________ can hurt the economy when prices drop, leading to higher sales but lower profits for producers
overproducing
The Farm Bill caused landowners to no longer need _________ to work on their land
sharecroppers
a tax against goods that are shipped into a country
tariff
The biggest crash in American history happened on Black __________ in 1929
Tuesday
Why did Americans think the economy would keep growing after Black Tuesday?
because new inventions were being sold
Banks make money by receiving interest from loans and by _____________ in the stock market
investing
The stock market crash showed that the US _______ was struggling
economy
a person who checks business records
auditor
a group of people who control how a city is run is called a city ________.
machine
What sometimes happens when the economy struggles and stock market prices rise higher than companies are worth?
The stock market crashes
Hoover headed efforts to provide ________ for people in Belgium during WWI
food
When many people rush to the bank to withdraw money, the action is called a ______
bank run
to buy stocks and then sell them as soon as the price goes up
speculate
In a welfare state the responsibility for the people's well-being belongs to the _______
government
What did Roosevelt give his supporters in exchange for their votes?
Work Projects
Explain how overproduction hurts businesses (Name 2 things that can happen)
1. Can cause lower profits
2. causes lower wages
3. few jobs
4. Going out out of business
Explain why Americans thought the Economy would keep growing after Black Tuesday (Give 2 Reasons)
1. many new inventions were being sold
2. companies were making money
3. Electricity had become available