Smoot-Hawley
What is a tax on a foreign good?
Tariff
Why are Shantytowns also referred to as Hoovervilles?
People blamed President Hoover for their hardships.
If there is too much of a product available from mass production what usually happen to the price of that product?
It goes down
The Civilian Conservation Corps (CCC) was a work program meant to help improve the environment by provided jobs to men in what age range?
18 - 25 y/o
What does GDP stand for?
Gross Domestic Product
- the value of goods and services made by a country in one year -
What happens to prices of goods when tariffs wars occur?
^ They go up ^ (Inflation)
Which region of the US was hit the hardest during the Dust Bowl?
Great Plains
What communities formed as a result of people being evicted from their homes after being unable to pay rent during the Great Depression?
Shantytowns
What was it called when Franklin D. Roosevelt would talk to the nation through radio broadcasts explaining the New Deal Programs?
Fireside Chats
What percentage % of unemployment does the economy need to be at to be considered "healthy?"
4% - 6%
Which 2 Presidents have famously used tariffs? (One past, one modern)
Hoover & Trump
How long did the Dust Bowl last?
10 Years (1930-1940)
Besides bank failures, hardship, hunger, and unemployment, what was another effect of the Great Depression?
Homelessness
What are the 3 "R's" of the New Deal?
Recovery, Reform, Relief
What is the government hoping people will do with any stimulus checks they receive?
Spend the money / put it back into the economy
What is likely to happen to the unemployment rate in a tariff war?
^ It will go up ^
What was the nickname for people from Oklahoma who migrated to the west during the Dust Bowl?
Okies
What is it called when people promise to pay for something later so they can buy it now?
Living on credit
Give 2 examples of what the Public Works Administration (PWA) created/improved:
Roads, Airports, Schools, Parks, Buildings, Pipelines, etc...
What are the animal names for a good and bad market?
Bull = Good
Bear = Bad
What is the main possible positive outcome from a tariff war?
People will buy more domestic products (things made in the US)
What 3 things contributed to the Dust Bowl?
Over production in agriculture,
Drought
Windstorms
What are 2 things that occurred in the chain of events that lead to the Stock Market crashing?
Overproduction - Stocks of unsold goods - demand falls - profits fall - many people sell shares all at once - panic.
What are 2 programs from New Deal legislations from the 1930s that are still around today?
Social Security (SSA), Federal Deposit Insurance Corporation (FDIC), Emergency Banking Relief Act (EBRA), Fair Labor Standards Act (FLSA), Civilian Conservation Corps (CCC)
What are the 3 economic indicators that are used to measure how well an economy is doing?
Unemployment, GDP, Inflation