Causes
True or False: The stock market was a "bull market" at the time of the Great Depression.
False: It was a "bear market"
What were Hoovervilles?
Shantytowns created in public spaces where homeless/poor people were forced to live during the Depression
What were the three goals of the New Deal?
Relief, Recovery, Reform
Why did Huey Long (LA) criticize FDR and the New Deal?
He thought it didn't give Americans enough relief
Who were the Okies?
People who escaped the Dust Bowl in Oklahoma and moved to California
Explain how speculation partially led to the Stock Market Crash.
People were "buying on a margin" basically buying stocks on credit, when the stock market went down, they could not pay back the money they owed
What was the Dust Bowl and which part of the country did it effect?
drought that led to dusty conditions and bad soil in the Great Plains
What is the purpose of the FDIC?
Insured bank deposits so people didn’t need to worry about losing savings
Which of the New Deal programs was used to create many of the National Parks in FL by draining swamps, cutting trees, etc.
CCC (Civilian Conservation Corps)
Which political party was FDR in?
Democrat
Explain how overproduction/underconsumption of goods lead to people losing their jobs.
Because factories already produced too much product, they no longer needed workers to produce things
Why did Hoover choose to help the rich instead of the poor?
thought money would "trickle down" and that poor people could rely on "rugged individualism" to get themselves out of poverty
What is the job of the Securities and Exchange Commission?
oversee the stock exchange to prevent a future crash
Why did many conservatives reject FDR and his New Deal?
He was a rich man prioritizing the poor; they viewed him as a traitor
True or False: The New Deal made the power of the Federal government stronger.
True
When the stock market crashed, banks ran out of cash. Why?
People panicked and rushed to get their savings out but nobody was paying bank loans so the bank ran out of cash quickly
What does "laissez-faire" mean? Why was this not a helpful policy for Hoover to have during the Depression?
"hands off"---> the government should not interfere in economic matters; Hoover was wrong because he did not use the governments power to assist poor people during the Depression
What did the CCC (Civilian Conservation Corps) do?
Outdoor jobs for young men like planting trees and draining swamps
What did the Agricultural Adjustment Act (AAA) do?
helped farmers by creating “false scarcity” to encourage prices to rise
Govt paid farmers to plant less crops and kill livestock so demand/prices for food would go up
What theme did most books and movies from the Depression Era represent?
struggle/hardships experienced during the time; hope for a brighter future or an "escape" from reality
What was the Smoot-Hawley tariff and why did it cause economic decline in the US?
Import tax; meant to make Americans buy American goods, but had the negative effect of discouraging other countries from trading with the US
Why was the building of the Hoover Dam one of Hoover's only successes during the Depression?
It gave people jobs
Explain how the TVA (Tennessee Valley Authority) helped the economy during the Depression.
TVA built 21 dams to control flooding and produce hydroelectricity; planted trees; very successful
Why was the Social Security Act the most important of the New Deal programs?
the SSA gave Americans a "safety net" by creating unemployment insurance, retirement benefits, and benefits for the disabled and orphaned
Explain what "court packing" is and why FDR wanted to do it.
Adding extra judges to the Supreme Court; he wanted to do it to ensure they SSA would be passed