Great Depression
What major event in 1929 helped start the Great Depression?
Stock Market Crash
What happened to the stock market in October 1929?
Crashed
Who was president when the Great Depression began?
Hoover
Who was elected president in 1932?
FDR
What was the New Deal?
Programs to help Reform, Recover, and Relieve the country.
What term describes a period of severe economic decline?
Depression
How did buying stocks “on margin” contribute to the crash?
People were not able to pay back what they had said they were.
What was Hoover’s general belief about government help?
Economy would fix its self. Government doesn't need to intervene.
What program did FDR introduce to help the economy?
New Deal
What were the three main goals of the New Deal?
Relief, Reform, and Recover
What happened to many banks during the Great Depression?
They Closed
Why was overproduction a problem in the 1920s?
Because when market fell businesses had too much and had to lower prices and didn't make money
What were “Hoovervilles”?
Homeless camps caused by depression
What were FDR’s “Fireside Chats”?
Addresses to the nation over the radio
Name one New Deal agency and its purpose.
...
Why did so many Americans lose their jobs in the early 1930s?
Layoffs from the Depression
How did bank failures make the Depression worse?
People lost money
Why did many Americans blame Hoover for the Depression?
He did not do anything to help fast during the depression
Why did people trust FDR during the Depression?
He was helping and talking to the people a lot
How did New Deal programs help unemployed Americans?
Gave them jobs
What was life like for families during the Great Depression?
(poverty, unemployment, homelessness)
How did unequal distribution of wealth contribute to economic problems?
Poor couldn't buy or do anything meanwhile rich could but also could not depend on lower income to buy their products
How did Hoover’s response differ from FDR’s?
He did nothing while FDR did a lot
How did FDR change the role of the federal government?
Expanded the national government and set precedent for their intervention in economic policy
Why was the New Deal controversial?
It expanded the National Government too far some people thought