Causes
Why did many banks fail?
Many people withdrew their money leading banks to close
What led to high rates of poverty and homelessness?
High unemployment
People resorted to petty crimes such as theft and other crimes leading to an increase of ___ ___
Crime rate
The 1929 event that is deemed the start of the Great Depression
What is the New Deal?
A series of programs and reforms was introduced by President Roosevelt to solve the Great Depression
What crashed on Black Tuesday that caused a massive loss of wealth and investors confidence?
The stock market crash of 1929
Economic hardship led to social unrest, the rise of extremist political ideologies, and increased government intervention in the economy due to social and political ______.
Instability
Many people struggled for basic survival due to lack of ____ and ____
Health and education
What is the FDIC?
The U.S. government that was created in 1933 to insure banks deposits and restore trust in the banking system
What is social security?
A program that provided financial assistance to the elderly, unemployed, and disabled
What group of people caused businesses to further decline?
Consumers
_____ _____ was not only limited to the United States but also affected other countries especially those linked with the gold standard or international trade.
The disruption or disturbance of established social structures, relationships, and systems.
Social dislocation
What is bank run?
The term described the widespread of withdrawal of bank deposits by people when banks were failing
What is the Agricultural Adjustments Act?
The program that aided farmers to reduce crop production to stabilize prices
What restricted other countries to adjust their money supply and caused an even more economic downturn?
The gold standard
New _____ /_____ _____ led to a substantial increase of government intervention such as the New Deal program or the Agriculture Department.
The Great Depression had a rise in ____ ____ due to people wanting justice for equality and poverty
Social reform
Which president introduced the New Deal program to counter the economic crisis of the Great Depression
Franklin D. Roosevelt
What is Works Progress Administration?
The New Deal agency out millions of unemployed people to work on pubic projects like roads and buildings
What act imposed high tariffs on goods impacting international trade?
The Smoot-Hawley Act
This crisis within the economy is also believed to be a contributing factor to starting ______?
World War ll
The Great Depression had a significant impact on women's roles in society. The need for income led to breaking traditional gender roles
What is the Glass-Steagall Act?
The 1933 law that separated commercial banking from investment banking to prevent future financial crisis
What is the Wagner Act?
its a 1935 law that gave workers the right to unionize and bargain collectively