The Beginning
This economic period was characterized by an increase in business, stocks, and customer buying.
What were the 1920's?
The most significant economic event in U.S. history.
What is the Great Depression?
This saying refers to when a large group of people attempt to withdraw their money from the banks at the same time.
What is a "run on the bank"?
This president enacted the New Deal.
Who was Franklin Delano Roosevelt?
What is a surplus?
This event, ending in 1918, encouraged economic growth and strength.
What was World War 1?
This president was in office at the beginning of 1929.
Who was Herbert Hoover?
When banks do not have enough money to satisfy depositors' demands
What is bank failure?
The New Deal was enacted in this year.
What is 1933?
A tax or duty to be paid on a particular class of imports or exports.
What is a tariff?
The Federal Reserve Board wanted to people to do this in order to increase the demand for goods.
What is spending money?
This industry struggled especially with the decline in production and the rise in tariffs.
What is agriculture?
The Federal Reserve Sysytem did not maintain an adequate supply of this during this time.
What is money?
This major event in 1939 helped bring the U.S. out of a Depression.
What is World War 2?
What is interest?
Foreign countries sent this form of currency to the U.S. for safekeeping during the war.
What is gold?
The inital dramatic crash of the stock market on October 24, 1929 is sometimes referred to as this name.
What is "Black Thursday"?
This seemingly unhelpful law raised already high tariff rates by about 20%.
What is the Smoot-Hawley Tariff?
An abandonment of this monetary system was due to a belief that an inflated money supply would fight off the Depression.
What is the gold standard?
A period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.
What is a Recession?
This economic event causes the general level of prices to fall and a shortage in the money supply, leading to debt and unemployment.
What is deflation?
In November 1929, the stock market had lost this percentage of its value.
What is 40%?
In 1931, these two financial rates were raised and did not help overall recovery.
What are income tax rates and interest rates?
More dependency on the government for economic safety is a result of an increase of this in the economy.
What is government involvement?
The practice where investors put down 10-25% of stock value and borrow the rest from a broker.
What is buying on margin?