chap. 19 test

Question 0

on what date did the stock market crash?

Answer 0

October 24, 1929

Question 1

what does it mean to buy stocks “on the margin”?

Answer 1

paying as little as 10% for the price in cash of a stock. then paying the 90% later on.

Question 2

what took place in the financial scandal known as the teapot dome affair?

Answer 2

Albert fall profited by selling government oil leases to private companies.

Question 3

what is the practice of making risky investments for the chance of making quick profit?

Answer 3

speculation

Question 4

what event effectively shut off the supply of credit that had sustained the economic boom?

Answer 4

the stock market crash

Question 5

what act gave the president broad powers to control banking policies and to reopen banks as he saw fit?

Answer 5

the emergency banking relief act

Question 6

what administration was established to control wages and prices and to limit competition among businesses?

Answer 6

the national recovery administration

Question 7

what was the name of the British socialist who formulated the ideas in which president Roosevelt based his “tax and spend” program?

Answer 7

John Maynard Keynes

Question 8

_____________________ established a government fund for the unemployment and old-age insurance

Answer 8

social security act

Question 9

define the Civilian Conservation Corps

Answer 9

it provided jobs for men ages 18-25

Question 10

define the works progress administration

Answer 10

to provide useful work for millions of victims of the Great Depression. which would in turn, stimulate the economy.

Question 11

define agricultural adjustment act

Answer 11

the government paid farmers not to plant crops or graze livestock on pasture land.

Question 12

which amendment repealed prohibition?

Answer 12

the 21st amendment.

Question 13

what was the purpose of the Tennessee valley authority?

Answer 13

controlling flooding, conserving soil, and bringing hydroelectric power to the Mid-south.

Question 14

what administration was established to control wages and prices and to limit competition among businesses?

Answer 14

national recovery admission.

Question 15

who became the first woman to pilot and airplane across the Atlantic?

Answer 15

Amelia Earhart

Question 16

what was the name of president roosevelt’s big government spending and jobs program?

Answer 16

“the New Deal”

Question 17

how did labor originals toons force employers to bargain with the union?

Answer 17

the congress enacted the National Labor Relations Act in 1935, to protect the rights of employees and employers, to encourage collective bargaining, and to curtail certain private sector labor and management practices, which can harm the general welfare of workers, businesses? and the U.S. economy.

Question 18

list and explain the three major reasons for the Great Depression.

Answer 18

•the desire of a few to get rich quickly
-people ignored the true value of the stock, many people bought and payed stocks far above the true prices.
•the widespread practice of buying goods on credit
-many people took advantage of having easy credit and installment plans, bringing them into debt.
•the government interference in the free market economy
-the federal reserve decided to shtick the money supply, increasing bank failures.

Question 19

what are the pros and cons of the New Deal?

Answer 19

pros:

• it called for firm aggressive action
• it appealed to the average American
• it held recommendations for economic recovery

cons:

• no one had any set plans
• it also appealed to liquor sellers, breweries, and bars
• they were vague and unclear

Question 20

compare and contrast Hoover and Roosevelt

Answer 20

Comp.
-they both did special things to help people

Cont.

• H.>was blamed for the Great Depression; R.> people thought of him as a hero
• H.>did what he wanted & not what the people wanted; R.>related to the people and listened to other opinions
• H.>organized food relief programs after wars; R.>threatened free interprise