Boom to Bust

Question 1

Prohibition

Answer 1

nationwide constitutional ban on the production, importation, transportation and sale of alcoholic beverages that remained in place from 1920-1933

Question 2

Flappers

Answer 2

modern woman of 20s, new freedoms, “buck” traditional role of woman, make a point “why can’t we be like men?”, wearing less clothes, drank and smoke

Question 3

Presidents of 20s

Answer 3

Warren G Harding, Calvin Coolidge, Herbert Hoover

Question 4

Model T-Henry Ford

Answer 4

First time car ownership became a reality for average American workers, revolutionary advancements in assembly-line automobile manufacturing

Question 5

buying on margin

Answer 5

like credit, borrowing the balance from a bank or broker, down payment made to the broker for the asset being purchased

Question 6

Types of markets

Answer 6

“bull”-someone expects market to rise, “Bear”-someone expects market to fall

Question 7

“Black Tuesday”

Answer 7

Oct 29th-worst, $14 billion lost, NY Times reported, “stock prices virtually collapsed”

Question 8

Banking Crisis

Answer 8

banked forced to close, run on the banks-everyone comes to bank, fearful bank will run out of money

Question 9

Causes of Great Depression

Answer 9

The stock market crash, Global depression, the business cycle, income gap, consumer debt, the banking crisis

Question 10

Rugged Individualism

Answer 10

success comes through individual effort and private enterprise

Question 11

Bank Holiday

Answer 11

Closes banks for 4 days in hopes of stopping the run on the banks

Question 12

Dust Bowl

Answer 12

Top soil of mid America came off

Question 13

Bonus Army

Answer 13

Gathering of WWI veterans who, with their wives and children, converged on Washington DC in 1932, demanding immediate bonus payment for war time services to alleviate the economic hardship of the Great Depression

Question 14

Fireside Chats

Answer 14

initially to tell people about bank holiday by radio, so popular chats continue through Great Depression, brought people courage/encouragement, clam people down/gave comfort/keeping people positive

Question 15

Great Depression Distractions

Answer 15

recreation and entertainment, comedies, dance marathons, radios, celebrities, attended sports-baseball-horse racing-betting on horses, gambling, movies

Question 16

FDIC

Answer 16

Federal Deposit Insurance Corporation- June 1933, creates a system to guarantee individual bank deposits, get money back if bank fails, successful-still exists today, won’t have problem if banks close-you will get your money back

Question 17

FERA

Answer 17

Federal Emergency Relief Administration- May, 1933, used federal funds to give to state agencies so that state agencies could pass out cash to people for groceries and necessities, ends in 3 years, get through worst of crisis, effective-assist most needy people

Question 18

CCC

Answer 18

Civilian Conservation Corps (Tree Army)- March 1933, provided work relief for 250,000 jobless young people who would plant national forests, clear trails, restore historic sights, battle forest fires, successful- helped young people be employed, extra money could be sent back to family, greatest successful program, ends in 1942

Question 19

TVA

Answer 19

Tennessee valley Authority- May 18, 1933, new agency to tackle important problems facing the valley, such as flooding, providing electricity to homes and businesses, and replanting forests, successful-today largest public power company in U.S., give energy and electricity to people and protect water quality

Question 20

SEC

Answer 20

Securities and Exchange Commission, June 1934, Protects public and private investments in stock, still exists today, successful-policies stock market, everyone has to know info at the same time, no unfair advantage

Question 21

Economic Change

Answer 21

• stock market crashing causes changes
  
  • Banks forced to close and run on banks
  • Business cycle-business stayed in depression for a longer/worse period of time
  • Global Depression-Americans unable to sell products to foreign countries, U.S placed high tariffs on imported goods

Question 22

Social Change

Answer 22

• KKK resurfaces
• Harlem Renaissance
• New African Americans present in society
  
  • Jesse Owens, Louis Armstrong

Question 23

Political Change

Answer 23

• Big changes in presidents
  
  • 20s presidents not involved, FDR very involved
• many new government organizations
  
  • FDIC, SEC
• Prohibition Laws change
  
  • 18th Amendment outlaws alcohol but 21st amendment repeals prohibition