6
What percent of people were unemployed during the Great Depression?
25%
What happened to people when their bank collapsed?
People lost their savings.
What did farmers do that contributed to the Dust Bowl?
Removed grass from the plains.
What was a key cause of the depression?
Overproduction
What phrase did Hoover believe in regarding the American people?
"Rugged individualism"
What was the purpose of the "Bank Holidays?"
To stop bank runs.
At what company did the "Sit-Down Strike" take place?
General Motors
What was the exact date of the stock market crash?
October 29, 1929
Why did the stock market crash weaken the banking system?
Banks had invested in high risk stocks.
Why did stock prices first begin to decline in late 1929?
Everyone started to sell their stocks.
What was the difference in Roosevelt's approach to the depression and Hoover's approach?
Roosevelt believed in using the federal government addressing the economic issues.
When in the 1920s did stock prices actually reflect the stocks true value?
Before the late 1920s. Early, middle 1920s.
Why did Hoover win in a landslide victory in 1928?
Because people prospered in the 1920s.
Buying on the margin reflected what attitude of Americans? (What did Americans think would happen)
"Get rich quick" attitude.
Public Works Administration's purpose
Hire the unemployed to build highways, bridges, schools, etc.
Roosevelt Administration created this to control the stock market.
Securities and Exchange Commission
What is the current amount of insurance that banks have on savings accounts?
$250,000
Who did Hoover believe should take care of the unemployed?
State and city governments, including charities.
A result of FDR's New Deal was...
Why did World War I veterans go to Washington in 1932?
To convince Congress to give them their bonuses.
Raised crop prices and ended overproduction.
Agricultural Adjustment Act
What was the U.S. population when the stock market crashed? (You need to be within 5 million)
123,000,000
Gave unemployed men outdoor jobs planting trees, draining swamps, and building reservoirs.
Civilian Conservation Corps
What interfered with the Constitutions separation of powers.
Roosevelt's "court-packing plan."
This Act set maximum working hours and a minimum wage and prohibited child labor.
Fair Labor Standards Act