Test 3

Question 1

Emergency Banking Act

Answer 1

Set up a bank holiday for the federal govt to examine bank integrity and reopen sound banks

Question 2

National Industrial Recovery Act

Answer 2

Designed to revive industrial and business activity; nations industries were to draw up a code of fair competition; each code had to have a section 7a to protect labors; schecter poultry case declared it unconstitutional because of illegal delegation of powers to the president

Question 3

Agricultural Adjustment Act

Answer 3

Act in which the govt paid farmers to plant less basic agricultural crops in an attempt to raise prices on agricultural goods; declared unconstitutional under the Butler Case as an unconstitutional use of taxing power

Question 4

Civilian Conservation Corps

Answer 4

Set up to give work to young men between 18 and 25 working on large projects such as soil erosion, flood control, national parks, road constructions, construction of water towers, and fighting fires

Question 5

Federal Emergency Relief Act

Answer 5

Headed by Harry Hopkins. Set up to provide direct relief to the states and local relief agencies (Red Cross, Charities) in the form of grants rather than loans

Question 6

Public Works Administration

Answer 6

Headed by Harold Ickes. Set up to create jobs in heavy construction; projects that required large quantities of materials

Question 7

Civil Works Administration

Answer 7

Set up in 1933 to offset a business recession that was hitting the nation at the time because the PWA was not working fast enough and make work immediately. It was completely federal in operation. Also headed by Harry Hopkins.

Question 8

Frazier-Lemke Act

Answer 8

Act set in place in 1943 to postpone mortgage foreclosures if the farmers paid adequate rent to be determined by the courts

Question 9

Federal Housing Administration

Answer 9

Created in a law passed in 1934 to insure loans by private lenders for housing construction or remodeling or repairs made of housing

Question 10

Section 7a

Answer 10

Requirement of all industrial codes under the National Industrial Recovery Act to protect laborers. Recognized the right of laborers to organize and bargain collectively. Also guaranteed a minimum wage and maximum hours prescribed by the President

Question 11

Schecter-poultry case

Answer 11

Declared the National Industrial Recovery Act because it gave illegal delegation of legislative powers to the president

Question 12

Butler Case

Answer 12

Declared the agricultural adjustment act unconstitutional on the ground that the processing tax was an unconstitutional use of taxing power

Question 13

Glass-steagall Banking Act

Answer 13

Restricted the types of investments banks could do with their money. Created the Federal Deposit Insurance Company to insure all bank customers’ accounts

Question 14

Truth in Securities Act

Answer 14

Directed against the stock market; the act compelled all brokers and issuers of stock to furnish complete information reguarding the true nature and value of the stock being sold

Question 15

Tennessee Valley Authority

Answer 15

Corporation that produced electricity and sold it to municipal and cooperative companies; these companies sold the electricity to the general public at cheaper rates than private companies thus making the govt a competitor to private business

Question 16

Securities and Exchange Commissions

Answer 16

Set up by the security Exchange Act as a corporation whose securities were traded on the exchange were required to register with the SEC and provide accurate and up-to-date information