Great Depression 1
What ushered in the Great Depression?
The stock market crash
What area of the country did the Dust Bowl affect?
The Midwest
Which of the 3 "R's" was the Security and Exchange Commission?
Reform
Which New Deal program was designed to provide financial support for the elderly. It created a 1% tax on income
Social Security
What protectionist trade policy did Congress pass in 1930 that tried to protect American Industry?
Hawley-Smoot Tariff Act
What 2 underlying issues led to the Great Depression?
Overproduction, high unemployment, massive poverty, buying on credit, unequal distribution of wealth, and Bank Closures
Result of Black Tuesday
businesses went bankrupt, people lost live savings
What was the goal of the New Deal?
tried to make economy more stable and address the economy through job creation.
What were the New Deal Goals based in (3 R's)?
relief, recovery, and reform
President during the Great Depession ?
Franklin D. Roosevelt
What was considered the heart of the problem in regards to the causes of the Great Depression?
Bank failures or banks
What did the SEC (Securities Exchange Commission) do?
Regulates Stock Market
What does "buying on margin" mean
paying a small percentage of a stocks as a down payment and borrowing the rest.
What was the concern with credit?
People could not make payments on loans.
What was the Purpose of the Tennessee Valley Administration (TVA)?
Provide electricity and improve conditions in the South
What New Deal Act created public work jobs, such as building state parks, for young men ?
Civilian Conservation Corps (CCC)
This term describes the decade of great wealth America enjoyed after WWI
Roaring 20's
How did Hoover try to fix the Depression?
Limited loans to banks and businesses
What act provided aid to unemployed people and the elderly ?
Social Security Act
What New Deal policies were found unconstitutional?
NIRA and AAA