CATEGORY 1: 1920s ECONOMY
What percentage of Americans had no savings during the 1920s?
Answer: 80%
After WWI, European nations owed the U.S. approximately how much?
$10 billion
Why was Herbert Hoover popular in 1928?
He fed starving Europeans after WWI
The New Deal aimed to provide what three things?
Relief, recovery, and reform
The TVA was created to do what?
Bring electricity and economic development to a poor region
Disposable income refers to money remaining after what?
After necessities are paid
Why were European nations unable to repay their war debts?
Their economies were devastated by war
Hoover believed the federal government should not do what?
Directly support individuals
explain Roosevelt’s philosophy of government action?
hands on
Which agency regulated the stock market?
SEC
Which group saw a 75% increase in disposable income during the 1920s?
The top 1%
What did the Fordney‑McCumber Act (1922) do?
Created high tariffs on industrial products
Hoover’s preferred source of relief for struggling Americans was:
Private organizations and charitable individuals
What major difference between Hoover and Roosevelt is highlighted?
Roosevelt believed in bold experimentation; Hoover feared government intervention
How did the AAA help farmers?
Paid farmers to reduce crop output
Why couldn’t surplus U.S. goods be sold overseas in the 1920s?
High tariffs and lack of money in Europe
High U.S. tariffs contributed to the Depression because other nations did what?
Retaliated, reducing world trade
Which project symbolized Hoover’s limited federal intervention?
Hoover Dam
What was the main purpose of the CCC?
Provide jobs for young men through environmental projects
Which program insured bank deposits?
FDIC
What was the primary reason farm incomes dropped in the 1920s?
Overproduction
Why did European nations pressure Germany to pay reparations?
To repay their debts to the U.S.
Which belief best reflects Hoover’s view of government?
Government intervention in business threatens liberty and freedom
Why did Roosevelt propose the “Court Packing” plan?
The Supreme Court struck down New Deal programs
The WPA is best known for what?
Employing millions in construction, art, writing, and public works