Depression Presidents
Which president was famous for his fireside chats and the line "we have nothing to fear but fear itself?"
Franklin Roosevelt
What federal act insured bank deposits to help restore confidence in the banking system?
FDIC - Federal Deposit Insurance Corporation
What is the name of the advisory group that FDR put together to figure out a plan for recovery? Many of them were economics professors.
The "Brain Trust"
One of the causes of the depression was the reduction of demand for goods without a reduction in what?
Production
This was the term for shantytowns made of cardboard boxes which housed many of the people affected by the Great Depression
"Hoovervilles"
Who was president when the stock market crashed in 1929?
Herbert Hoover
What government program provided jobs for young men to plant trees, build bridges and parks, and set up flood-control projects?
CCC - Civilian Conservation Corps
FDR closed the banks for 10 days to allow them time to stabilize. What did he call this?
A "Bank Holiday"
"Buy now - pay later" is a slogan used during the twenties to promote what method of obtaining luxury goods?
Installment buying or credit
The Great Plains experienced a drought during the depression which blew up dirt and created huge dust storms. What did the farmers call this?
The "Dust Bowl"
What did FDR call his plan to end the depression?
The "New Deal"
What government organization built dams to provide cheap electric power to seven southern states? It also set up schools and health centers.
TVA - Tennessee Valley Authority
What did FDR push to have repealed in order to stimulate the economy with a tax on liquor?
The 18th Amendment or Prohibition
What term is used to describe buying stocks on the margin (buyers paying only part of the cost of the stock when they make the purchase) using borrowed money that could not be repaid when the stock market crashed in 1929 and stock prices collapsed
Speculation or over-speculation
What were the 3 "R"s of Roosevelt's plan to end the depression?
Relief, Recovery, & Reform
President Hoover asked businessmen not to reduce what, which led ultimately to more unemployment?
workers's wages
What government agency created jobs to carry out public works projects, including the construction of buildings and roads, to give relief to the unemployed and needy?
WPA - The Works Progress Administration
Which country did FDR recognize and restore trade relations with to allow foreign investment?
Communist government of Russia
What institutions failed causing people to lose their life savings?
Banks
What was the theme song of the Democrats to encourage voters and the American people?
"Happy Days are Here Again"
Because of her husband's polio, this woman traveled the nation and became a symbol of social justice and a great ambassador for the president's plan. What was her name?
Eleanor Roosevelt
What government plan paid farmers not to grow certain crops to control surplus?
AAA - Agricultural Adjustment Act?
What government program set up a system of pensions for the elderly, the unemployed, dependent children, and people with disabilities?
SSA - Social Security Act
What did President Hoover increase to help protect America from foreign imports, which had a reverse effect as other countries responded with similar increases?
Tariffs (Hawley-Smoot Tariff Act)
What is the term when a large number of bank customers withdraw their deposits because they believe the bank is, or might become, insolvent? Much of the Great Depression's economic damage was caused directly by them.
Bank runs