Causes of the Great Depression
This crashed in 1929, signaling the beginning of an economic downturn what would become the Great Depression.
What is the stock market?
Because banks had gambled on the stock market, they lost people's this.
What are life savings?
This is the name for a climate event with unusually high temperatures and no rain.
What is a drought?
This is the name given to programs aimed at helping people in dire need immediately.
What is relief?
This was a reform program that insured bank deposits for Americans to prevent future bank failures.
What is the Federal Deposit Insurance Corporation (FDIC)?
These occurred because people and banks gambled on the stock market and people rushed to the bank to take out their money all at once.
What are bank failures?
Overproduction leads to what kind of prices?
What are low prices?
This led to the depletion of nutrients in the soil, contributing to the land erosion that led to the Dust Bowl.
What is overfarming?
This is the name given to the agricultural and industrial programs to help the economy improve from the depression in the short-term.
What is recovery?
This is the name of the reform program that led to retirement checks for the elderly and unemployment checks for those who lost their job.
What is Social Security Act/Administration (SSA)?
This is the name for the fact that farmers and factories made more goods than people actually wanted to buy.
What is overproduction?
Because banks failed and could not issue loans, prices were too low, and people stopped buying, this led to mass layoffs and high this:
What is unemployment?
The Dust Bowl caused many people in the Great Plains to migrate to this state.
What is California?
This is the name given to programs aimed at large changes to ensure a Great Depression would never happen again.
What is reform?
This group did not benefit as much from the New Deal, evidenced by their lower wages, lack of access to housing, and lesser chance at New Deal jobs.
Who are African Americans?
Because the economy was not doing well, people saved more and bought less, which is the definition of...
What is underconsumption?
This is the economic term for the continuously lower and lower prices.
What is deflation?
Name one effect that the Dust Bowl had on people's lives.
What is killed crops/killed livestock/killed people/caused difficulty breathing/forced migration?
This program which paid farmers not to farm was called this.
What is the Agricultural Adjustment Act (AAA)?
This is the name of the program that simultaneously paid unemployed people to work and made electricity cheaper for residents in the South.
What is the Tennessee Valley Authority (TVA)?
This is the name of the tariff passed in 1932 to try and make people buy American, only to make the economy worse.
What is the Hawley-Smoot Tariff?
The Hawley-Smoot Tariff made the economy worse because American exports were hurt by the fact that other countries did this.
What are retaliatory tariffs?
This is the derogatory nickname given to people from Oklahoma who migrated to California.
What are "Okies?"
This is the name of the program that paid young men to help build the national parks and conserve the environment.
What is the Civilian Conservation Corps (CCC)?
Many economists and historians credit this event for helping the economy fully recover from the Great Depression.
What is World War II?