Vocabulary
Black Tuesday is what?
New York stock market crashed 10/29/1929
How much did the Economy shrink?
The Economy shrank by 30%
AAA(Agricultural Adjustment Administration):
Paid farmers to reduce production and raise crop prices
What happened with the stocks?
The stocks were really down and people started borrowing money
What did many people lose during the Great Depression?
Their jobs and homes.
What is the Dust bowl?
a severe drought and dust storm, farmers lost their land
How much was the unemployment rate
it was 25%, not much people were working
FDIC (Federal Deposit Insurance Corporation):
Insured peoples bank deposits and protected their money
What happened to the banks?
Widespread bank failures and runs
What did families often do to save money?
They spent less and reused things.
What is Deflation?
Rapid drop in the general price level
What is the Bank Holiday?
This 1933 law temporaliry closet all you us bank so the government could inspect them.
SEC (Securities and Exchange Commission)
Regulated the stock market and protected their money
What happened with production?
Overproduction in farming and manufacturing
Where did some homeless families live?
In shantytowns.
What are Hoovervilles?
Makeshift homes by homeless people
What is the Civilian Conservation Corps (CCC)
This program pay young man to born conservation projects such as planting trees and building parks.
NIRA (National Industrial Recovery Act):
Regulated businesses, wages, prices, and working conditions
What is the Mawly?
Smooth tariff act of 1930 which hurt global trade
What was a common problem for children during the Great Depression?
Hunger and poverty.
What is the New Deal?
Designed to create jobs and stabilize economy
What is the Bonus Army?
This 1932 event saw thousands of World War I veterans march Washington demanding early payment of promised bonus
TVA (Tennessee Valley Authority):
Built dams and provided electricity and jobs
Why consumer spending fall during the Great Depression?
Because wealth was distributed unequally, so many Americans did not have enough money to buy goods.
How did unemployment affect families?
Many families struggled to afford food, housing, and other basic needs.