Chapter 23 Flashcards
An excellent example of the reckless speculation of the late 1920s was
buying stock on margin.
Economists call a marked slowdown in economic growth
recession
Which of the following statements regarding the American economy at the end of the 1920s in the years leading into the Great Depression is correct?
Fewer workers were joining unions.
As farm productivity __________, farmers earned __________ from their crops.
increased; less
Why did more than 1,000 economists warn against the Smoot-Hawley Tariff of 1930, which Hoover went on to sign anyway?
It would raise prices on most products and raw materials by impeding imports.
Because of the actions of the Federal Reserve, the American money supply __________ in the period from 1929 to 1932.
Quadrupled
Which of the following statements regarding Europe’s role in the Great Depression is accurate?
Many European nations had not recovered from World War I and had high debts.
Which of the following statements about the extent of who the Great Depression affected is accurate?
The Great Depression affected people of all classes and backgrounds
Which of the following statements regarding the effects of the Great Depression is accurate?
Hunger was widespread during the Great Depression.
Which of the following statements regarding married women during the Great Depression is correct?
As the Depression intensified, working married women came to be the primary targets of layoffs
Which of the following groups had the highest rate of joblessness in the early years of the Great Depression
African Americans
In response to the crises of the Great Depression, states deported hundreds of thousands of __________ and
Mexican Americans; their American-born children
Which of the following states was among those hardest hit by the Dust Bowl?
Colorado
The majority of Dust Bowl refugees came from
cotton belt communities in Arkansas, Texas, Missouri, and Oklahoma
According to your textbook, what was the initial response of the Hoover administration to the Great Depression?
The Hoover administration denied the problem
President Hoover tried to balance the federal budget by passing the __________, but the plan was shortsighted and accelerated the economic slowdown.
Revenue Act of 1932
When the Great Depression broke out, the American federal government had __________ programs in place to deal with homelessness and joblessness.
No
President Hoover believed the best ways to help the needy during the Great Depression were __________ and __________.
self-reliance; voluntarism
The Reconstruction Finance Corporation was created to do what?
Loan money to struggling banks, life-insurance companies, and railroads
Who made up the so-called Bonus Expeditionary Force?
World War I veterans
What did Franklin Delano Roosevelt do throughout the presidential campaign of 1932?
He repeatedly promised a bold new deal for the American people.
Roosevelt could identify with the poor and the suffering because
he had contracted polio and been left disabled
Which of the following actions was part of President Roosevelt’s three-pronged strategy during his first hundred days in office?
Paying farmers “subsidies” to raise commodity prices
The purpose of the Emergency Banking Relief Act was
restore confidence in American banks.
