Chapter 23: The Great Depression

Question 1

Black Tuesday

Answer 1

Symbol of the beginning of the Great Depression
- stock market crash on 10/29/1929
- exposed America’s underlying problem with economy

Question 2

Smoot-Hawley Tariff

Answer 2

Pushed to protect American businesses and farmers, but ultimatley deepening crisis. Was the highest tariff in American history
International trade collapsted as a consequence of this

Question 3

Keynesian Stimulus

Answer 3

Policy used increased government spending/tax cuts to stimulate economic activity and jobs

Question 4

President’s Organization for Unemployment Relief (POUR)

Answer 4

Coordinate relief efforts among private agencies, but voluntary measures were insufficent and charity did not work because of multiplying unemployed americans

Question 5

Associationalism

Answer 5

A system where businesses would voluntarily limit harmful business practices for the greater economic good

Question 6

Reconstruction Finance Corporation (RFC)

Answer 6

**Gave government loans/aid to banks, **railroads, but was too late as Depression depeends
- out of character for laissez-faire

Question 7

Bonus Army

Answer 7

A group of World War 1 veterans who petitioned the government to make an early payment on bonuses scheduled to be released in 1945

Question 8

Hoovervilles

Answer 8

Shantytowns spraning up in country and lines for food and promises of employment became commonplace (a place where many employed Americans encamped, usually public/marginal lands)

Question 9

Dust Bowl

Answer 9

All of the above (destructive agricultural pratices, a years-long dought, low commodity prices)

Question 10

Franklin Roosevelt

Answer 10

Elected bc Americans needed a “new deal”
- halted most of Hoover administration’s practices, providing job programs, work projects, wages, etc