A
1) Credit
Buy now, pay later
2) Speculation
Buy on chance of a quick profit
3) Buying on margin
Pay small percent of price, borrow rest
18) What was an economic result of the Great Depression?
People withdrew money from the banks, the gross national product was nearly in half, 90,000 businesses go bankrupt, 25% of Americans were out of work
19) What led to the Great Depression?
Tariffs, war debts, farm problems, easy credit, income disparity, having excess
4) Dust Bowl
Drought, windstorms hit; soil scattered for hundreds of miles, hardest hit area was the Dust Bowl (North Dakota to Texas)
6) Franklin Delano Roosevelt (FDR)
Democrat President who led the nation through the Great Depression and was more okay with government intervention in the economy
17) How did people economically respond to the stock market plummeting?
Shareholders sold frantically but millions of shares had no buyers
5) Herbert Hoover
Republican president who was cautious to have the government interfere with the economy
7) New Deal (3 Rs)
Program that attempted to provide relief for the needy, economic recovery, financial reform
8) Agricultural Adjustment Act (AAA)
Paid farmers to grow less food
Goal was to raise food prices by lowering supply
10) Civilian Conservation Corps (CCC)
Public works jobs for young men
Reduced unemployment
9) Tennessee Valley Authority (TVA)
Created jobs renovating, building dams
Planned to create prosperity in the impoverished Tennessee Valley Region
11) Father Charles Coughlin
Critic of the New Deal who wanted guaranteed income and banks nationalized
13) Huey Long
Critic of the New Deal and presidential hopeful who had a popular social program
12) Dr. Francis Townsend
Critic of the New Deal who wanted pension plans for the elderly
14) Works Progress Administration (WPA)
Created jobs (like building roads)
Employed women to sew clothes
Employed professional writers, artists, and performers
16) Mary McLeod Bethune
Helped organize the “Black Cabinet” of African American advisers
15) Frances Perkins
Secretary of labor, first female cabinet member
22) How were men impacted by the Great Depression?
Used to supporting their families so hard to cope with not finding work, some wandered around the country
20) What caused the Dust Bowl?
Answers may vary: human overproduction and nature
21) How did some people respond to the Dust Bowl?
Many farm families migrated to Pacific Coast states
23) How were women impacted by the Great Depression?
Tried to carefully budget and make food/clothes at home, some were resented for working
25) What was the purpose of FDR’s first fireside chat?
To discuss the need for public support of government and banks
24) How were children impacted by the Great Depression?
Poor diets led to serious health problems, the school year was shortened, and some teenagers chose to leave home