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What did FDR push to have repealed in order to stimulate the economy with a tax on liquor?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
During the 20s people bought stocks on the margin (buyers paying only part of the cost of the stock when they make the purchase) and borrowed money to invest. This speculation inflated prices way beyond the value of the stocks, but caused what in 1929?
The stock market crash
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 was created to regulate the stock market and investments?
The SEC - Securities and Exchange Commission
Which country did FDR recognize and restore trade relations with to allow foreign investment?
Communist government of the USSR
What institutions failed causing people to lose their life savings?
Banks
How did Americans temporarily escape the misery of the Great Depression?
Radio and movies
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 caused the Great Depression? I know. "It's complicated!"
Overproduction
Speculation - and the stock market crash
Installment or credit purchases
Bank failures