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Vocabulary
Section 1
Section 2
Section 3
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100
buying on margin
purchasing stock on credit, or with borrowed money
100
What was the immediate effect of the stock market?
The banking crisis (banks invested in the stock market and lost all their money)
100
What was the 100 days?
Congress was called into a special session. President Roosevelt and Congress worked together to create new programs to battle the Depression and aid economic recovery.
100
What was the Dust Bowl?
Massive dust storm in the Great Plains
100
Who wrote Grapes of Wrath?
John Steinbeck
200
bull market
market with rising stock values
200
How was the businesses effected by the failed banks?
Some businesses lost their savings and had to close. Others were forced to cut back production.
200
What was the purpose of the fireside chats?
To explain the programs that were being put in place to address the economic problems.
200
What effect did the Dust Bowl have on farmers?
It destroyed what crops farmers had and they were unable to raise new ones.
200
What was Congress of Industiral Organization?
Organized workers into unions based on industry, not skill level.
300
bear market
declining stock prices
300
What's the business cycle? Give an example
The economy's up and down pattern. Example: Before the stock market crashed, production was good. When the stock market crashed, people lost their jobs and didnt have money to spend. Once the economy adjusts, or gets better, business start to produce more, needing more workers. Once people are working, they spend more money benefiting the economy.
300
What were two problems the critics stated about the New Deal?
1. Believed it gave the president too much power. 2. Business leaders were concerned that the high cost of the new government would lead to new taxes.
300
What effect did the Great Depression have on minority groups?
As white families moved west, Mexican Americans found it harder to get work. In California, some were deported despite being American-born. African Americans also faced discrimination because they lost their jobs to white people.
300
What was the TVA?
Hired people to build dams and generators, bringing electricity and jobs to communities in the Tennessee River valley.
400
Black Tuesday
The day the stock market crashed
400
What are three causes of the Great Depression?
Overproduction of goods when the market was shrinking. A second reason was the uneven distribution of wealth. Third reason was world trade.
400
What was the Second New Deal?
After 1934's election, new laws were put into effect. One of these laws was teh Social Security Act.
400
What did the Daughters of the American Revolution do to upset First Lady Eleanor Roosevelt?
They refused to rent their auditorium to the African American singer Marian Anderson.
400
Why do you think Americans were so unprepared for difficult times?
The economy was strong in the 1920s, and people thought it would last forever.
500
What was the New Deal?
Programs to help stimulate the economy
500
What was Hoover's reaction to the economic problems?
He created the Reconstruction Finance Corporation. However, he didn't give direct assistance to individuals.
500
What was the purpose of the sit-down strike?
When companies went on strike, instead of leaving the building, they sat in so they couldn't be replaced by new workers.
500
Why did Swing music become popular during the Great Depression?
It helped people forget their troubles.
500
How did the economy of the country change during the Great Depression?
Federal government become involved and stabilized the economy by regulating banks and supporting business and labor negotiations.