Causes of the Great Depression
The exact day the Great Depression began
What is Oct. 29, 1929
Since businesses started closing, this number rose as high as 25% in 1932.
What is unemployment?
To protect American businesses, these were placed on imports to make Americans buy American products?
What are tariffs?
What did FDR say of the Great Depression? "We have nothing to fear, but . . . ?
What is fear itself?
FDR adopted what became known as Keynesian economics (demand side economics or priming the pump). Putting money into the hands of Americans was more important than getting money into the hands of the government. In other words, don't worry if the government does what?
What is "goes into debt"?
Farmers and factories were doing this during the 1920s, which caused prices and their profits to go down.
What is overproduction?
With so many people being unemployed, their houses were foreclosed or they were evicted from their apartments. Millions of make-shift shanty towns known as _________________ were scattered across the United States.
What are Hoovervilles?
This specific tariff caused foreign nations to places retaliatory tariffs on American goods shipped overseas. Now, fewer and fewer foreigners were buying American products, too. What was the name of this tariff that only hurt the world wide economy?
What was the Hawley Smoot Tariff?
The name of FDR's program to end the Great Depression?
What was the New Deal?
Which program upset many Americans because they believed it was socialistic, since now the government would be in charge of much of the electricity in Appalachia?
What was the TVA? The Tennessee Valley Authority?
Many investors bought their stocks by paying their brokers only a small portion of the actual stock value. In other words, they bought their stocks on credit. This is known as?
What is "buying on margin" or "margin buying"?
President Herbert Hoover believed that just giving money to people would destroy their desire to work, so he was against giving out what to the American people?
What is unemployment or welfare?
Hoover's Reconstruction Finance Corporation finally created jobs with infrastructure. However, what did Hoover do to pay for the $2 billion plan?
He raised income taxes!!!
The Works Progress Administration and the Civil Works Administration employed about 12 million Americans. What type of jobs were they doing across the country?
What was infrastructure?
In 1935, what act, also known as the National industrial Recovery Act, gave workers the power to unionize?
What was the Wagner Act?
Investors were buying stock just to cause stock prices to go up, even if the company's stock wasn't worth that actual price. This is known as?
What is overspeculation?
When these people came to Washington DC, President Hoover had the army removed from the city.
What government agency, created by Woodrow Wilson, failed in regulating the banking industry?
What was the Federal Reserve Bank?
FDR's Glass Steagall Act protected American's bank deposits thanks to what new federal program?
What is FDIC (Federal Deposit Insurance Corp.)?
Money to be put aside for the elderly and the orphaned?
What is Social Security?
What name was given to Oct. 29, 1929, the day the Great Depression began?
What is Black Tuesday?
Many Americans were forced _____________ from town to town or from state to state to look for jobs.
What is migrate?
During the 1920's the federal government moved away from the progressive reforms of the previous 20 years and returned to a hands off approach to the economy (which helped to cause the depression). What is this hands off approach known as?
What is Laissez Faire?
What law ended prohibition (rescinding the 18th Amendment)?
What was the Beer-Wine Revenue Act? Aka the 21st Amendment
What ended the Great Depression?
What was World War II?