Ideas

Question 1

Overproduction

Answer 1

a situation in which more goods are being produced than people can afford to buy

Question 2

Underconsumption

Answer 2

a situation in which people are purchasing fewer goods than the economy is producing

Question 3

First “New Deal”

Answer 3

President Franklin D. Roosevelt’s domestic program from 1933 to 1939, which aimed to bring about immediate economic relief from the Great Depression

Question 4

Public Works Projects

Answer 4

government-funded construction projects for public benefit

Question 5

Second “New Deal”

Answer 5

focus away from recovery and toward social and economic reforms. aimed to provide Americans with relief, stability, and security.

Question 6

Conservative

Answer 6

someone who cherishes and seeks to preserve traditional customs and values

Question 7

Liberal

Answer 7

someone committed to the expansion of liberty

Question 8

Radical

Answer 8

someone who wants to make sweeping social, political, or economical changes in a society

Question 9

Court packing

Answer 9

To fill the court with a majority of judges that will vote a certain way

Question 10

The First Hundred Days

Answer 10

the first three months of Franklin D. Roosevelt’s presidency, during which Congress passed a record number of bills in order to implement the New Deal and provide relief, recovery, and reform from the Great Depression

Question 11

Trickle-down economics

Answer 11

an economic policy in which the government attempts to indirectly aid the needy by promoting economic growth at the business level in the hope that it will influence prosperity at all levels. Created by Andrew Mellon

Question 12

Mass production

Answer 12

the manufacturing of goods on a large scale in factories

Question 13

Supply/demand

Answer 13

the amount of a commodity, product, or service available and the desire of buyers for it

Question 14

Dawes plan

Answer 14

developed by banker Charles Dawes, a plan for Germany to repay reparations after World War I by receiving loans from the United States. Money went in a circle to repay several country’s debts, but money was lost because of conversion costs

Question 15

Comnunism

Answer 15

an economic or political system in which the state or the community owns all property and the means of production, and all citizens share the wealth

Question 16

Socialism

Answer 16

a political theory that advocates ownership of the means of production, such as factories and farms, by the people rather than by capitalists and landowners

Question 17

Laissez-Faire

Answer 17

the idea that the free market, through supply and demand, will regulate itself if government does not interfere

Question 18

Okies

Answer 18

a nickname for a person who migrated from the Dust Bowl to California during the Great Depression

Question 19

Normalacy

Answer 19

the concept of life as it was before World War I, when the nation could focus on its own domestic prosperity, which Republican candidate Warren G. Harding promoted during the 1920 presidential election campaign and which helped him win the presidency

Question 20

Social welfare

Answer 20

government or private social services intended to aid disadvantaged groups

Question 21

Welfare state

Answer 21

a social system in which the government takes responsibility for the economic well being of its citizens by providing programs and direct assistance

Question 22

Business cycle

Answer 22

in a capitalist economic system, a recurring cycle of economic growth, decline, panic, and recovery

Question 23

Relief

Answer 23

assistance, especially in the form of food, clothing, or money, given to those in special need or difficulty.

Question 24

Recovery

Answer 24

the action or process of regaining possession or control of something stolen or lost.

Question 25

Reform

Answer 25

make changes in (something, typically a social, political, or economic institution or practice) in order to improve it.