Depression

Question 1

What is a bull market

Answer 1

Stock prices rise, encourages buying

Question 2

What is margin buying

Answer 2

Purchasing stocks with credit

Investors going into debt

Question 3

Did anyone predict a crash

Answer 3

Economists

Question 4

What was Black Thursday

Answer 4

The crash
October 24, 1929 - market spirals toward crash
Investors nervous about rising interest rates, so they sold their shares, lost their confidence in the market, and share prices plunge

Question 5

What is Black Tuesday

Answer 5

Panicked investors sold or dumped 16 million shares of stock on the market
Investors in debt ruined

Question 6

What happened at the end of 1929

Answer 6

$30 billion lost by stock holders

Question 7

What was the banking crisis

Answer 7

Only small number of Americans owned stock
Large banks begin to suffer because investors can’t pay back loans
Banks close
Customers run on banks

Question 8

What is it called when investors can’t pay back bank loans

Answer 8

Defaulting

Question 9

How many banks failed between 1930-1932

Answer 9

5000

Question 10

What caused economic trouble in Europe

Answer 10

War debt

Question 11

Why did world trade decline

Answer 11

Americans not purchasing foreign goods
Foreign nations not purchasing American goods
Us tariffs on imported goods increase

Question 12

Why did buying power go down

Answer 12

Only 7% of Americans had buying power to Boost economy

Question 13

What did some economists think about the depression

Answer 13

It was regular for free enterprise

Question 14

What was hoover’s response

Answer 14

No direct government relief

Rugged individualism

Question 15

Who did Americans blame

Answer 15

Hoover

Question 16

What did Americans do to mock Hoover

Answer 16

Call their slums Hoovervilles

Question 17

What happened with the bonus army

Answer 17

10000 WWI vets protested in DC because the bill to grant them money had been rejected by congress
Hoover had the army forcefully remove them

Question 18

What happened after the bonus army

Answer 18

Hoover is hated, FDR sweeps election of 1932

Question 19

What was the new deal

Answer 19

15 relief and recover measures, all of which approved by congress
Banks take a holidAY
FERA
CCC

Question 20

What happened with the banks taking a holiday

Answer 20

Roosevelt issued a proclamation closing every bank in the nation for a few days
Designed to stop massive withdrawals

Question 21

What did Roosevelt. Do

Answer 21

Got on radio - fireside chats

Assured Americans that banks were safe for their money

Question 22

What was the FERA

Answer 22

Federal emergency relief administration

Created to distribute $%00 million of aid to state and local agencies

Question 23

American reaction to FERA

Answer 23

Wanted to earn money, not get charity

Question 24

What was the CCC

Answer 24

Civilian conservation corps
Established by congress
2.5 million young men employed in the 10 year span

Question 25

What did hte CCC do

Answer 25

Planted trees Created park trails Earned $30 a month

Question 26

What did the new deal do for agriculture

Answer 26

Agricultural adjustment administration (AAA) Paid farmers to reduce output of crops Created demand, raised price Increased taxes on food processors, flour mills, and meat packers

Question 27

What was the TN Valley authority

Answer 27

Provided electricity to poor communities | Controlled flooding

Question 28

Critiques of the new deal

Answer 28

Conservatives and liberal unhappy Some argue new deal measures are destroying the constitution Supreme Court rules certain new deal reforms unconstitutional AAA destroyed

Question 29

What was the second new deal

Answer 29

Emphasized long term reform | Social security act

Question 30

What was the social security act

Answer 30

1935 | Provides unemployment insurance, pensions to retired workers 65+, and payments to people with disabilities

Question 31

What was the dust bowl

Answer 31

Sever drought that struck Great Plains 50 million acres wasteland Farmers headed west

Question 32

What is an okie

Answer 32

Dust bowl farmer who set out to California

Question 33

What road did farmers take west

Answer 33

Route 66

Question 34

How did farmers see California

Answer 34

Promised land

Question 35

What did the influx of migrant workers do

Answer 35

Drove wages down

Question 36

Photography

Answer 36

Federal government pays to have pictures taken depicting US poverty

Question 37

What was one cause of depression

Answer 37

Americans confident in economy and used credit