The economy BEFORE the US transitioned
What is agricultural or agrarian
What are protective tariffs?
Sudden dramatic decline of stock prices, severe economic downturn, fueled by speculation and margin buying
What is the stock market crash?
An act that prevents banks from investing deposits in stocks ..
A)Emergency banking act......B)Glass Steagall Act......C) Securities and Exchange Commission.......D)Fair Labor Standards Act
What is the Glass-Steagall Act?
The economy AFTER the transition
What is urban or industrial?
What are retaliatory tariffs?
Large number of depositors in a bank simultaneously withdraw their money due to the fear of a bank's instability, potentially leading to its collapse.
What are bank runs?
....
A)Emergency banking act......B)Glass Steagall Act......C) Securities and Exchange Commission.......D)Fair Labor Standards Act
What is the emergency banking act?
Creates national pension system, unemployment compensation
What is the Social Security Act?
The industrial economy was led by these.
What are large companies?
What is credit?
The president who was ultimately blamed
Who was President Hoover?
Regulates wall street
A)Emergency banking act......B)Glass Steagall Act......C) Securities and Exchange Commission.......D)Fair Labor Standards Act
What is Securities and Exchange Commissions?
Economic and political philosophy encompassing diverse economic and social systems characterized by social ownership of the means of production as opposed to private - basically, industries are owned by workers not private businesses
What is socialism?
Caused by over-farming and drought conditions
What is the Dust Bowl?
What are labor unions?
Black Tuesday
Law that sets minimum wage, overtime page, child labor standards
A)Emergency banking act......B)Glass Steagall Act......C) Securities and Exchange Commission.......D)Fair Labor Standards Act
What is Fair Labor Standards Act?
What are the reasons there were allegations of socialism? Name 1 for points
Pro-union policies, increased regulations, deficit spending
The unequal distribution of assets - the richest 10% own a disproportionate share of wealth compared to the rest of the population.
What is the wealth gap?
Where white people started moving (from the Great Plains)
Attempt to stabilize crop prices ... hint: 3 words
What is the Federal Farm Board?
President who implemented these acts
Roosevelt
True or false: The economy quickly expanded due to tech innovations creates a class of mega rich captains of industry
True!