The Great Depression

Question 1

What were five problems that led to the Great Depression?:

Answer 1

• collapse of the stock market
• banks closing
• uneven distribution of income
• lower exports
• the federal reserve

Question 2

Define margin

Answer 2

Borrowing money from stockbrokers to buy stocks.

Question 3

Define margin call

Answer 3

Demanding the investor to repay the loan at once

Question 4

Define speculation

Answer 4

buying stocks in anticipation that the price will keep rising

Question 5

Define bull market

Answer 5

A long period of high stock prices

Question 6

Define installment plan

Answer 6

Consumers buy goods with a small down payment and pay the rest off in small monthly installments.

Question 7

Define bank run

Answer 7

Depositors withdrew all of their money at one time

Question 8

What day was known as Black Thursday and how did it get its name?

Answer 8

It’s when the stock market plumeted. It’s on October 24, 1929.

Question 9

What was the Hawley-Smoot Tariff?

Answer 9

Raised the tariff on imports and exports, to protect American businesses and farmers.

Question 10

What were two causes of the Dust Bowl?

Answer 10

poor farming practices and a drought on the Great Plains.

Question 11

In what area of the country did the Dust Bowl take place?

Answer 11

From the dakotas to texas/great plains.

Question 12

How did many farmers respond to the Dust Bowl?

Answer 12

They moved away to California as oakies.

Question 13

What’s a hobo?

Answer 13

Someone who is like a bum. Who is homeless and impoverished.

Question 14

How did President Hoover respond to the Depression?

Answer 14

He was not very worried, he thought the economy would be fine.

Question 15

Define relief

Answer 15

Money given directly to impoverished families

Question 16

How did President Hoover feel about supplying relief to Americans?

Answer 16

He believed only state and local governments and private charities should dole out relief.

Question 17

Define forclose

Answer 17

Can’t afford house anymore so the bank takes it.

Question 18

Define shantytown

Answer 18

Where homeless people lived(unused/public lands)

Question 19

What’s another name for a shantytown?

Answer 19

Hoovervilles

Question 20

Why did so many people go to the movies during the Great Depression?

Answer 20

It kept them from worrying.

Question 21

John Steinbeck’s accomplishment’s:

Answer 21

The Grapes of Wrath(book, movie, and Pulitzer Prize.)

Question 22

Grant Wood’s accomplishment’s:

Answer 22

Art emphasizing traditional American values. (American Gothic).

Question 23

Define public works

Answer 23

Something Hoover supported, created jobs.

Question 24

What happened when the Bonus Army marched to Washington DC? Why were they marching?

Answer 24

The actual army was brought in, people hid in buildings, people were killed. This happened because the veterans wanted their bonus’s early.

Question 25

By 1932, how did most Americans feel about President Hoover and the Republican party?

Answer 25

People did NOT like President Hoover or the Republican party.

Question 26

What was FDR's job before he was elected as President?

Answer 26

Senate/Politician Lawyer

Question 27

What political party did FDR belong to?

Answer 27

Democratic

Question 28

Define New Deal

Answer 28

Roosevelt's policies for ending the Depression.

Question 29

Define Hundred Days

Answer 29

March 9-June 16 1933: Congess passed 15 major acts to resolve the economic crisis.

Question 30

Define bank holiday

Answer 30

Governors closed banks before bank runs could put them out of business.

Question 31

Define deficit spending

Answer 31

government spending

Question 32

What were FDR's fireside chats?

Answer 32

direct talks over the radio in which President Roosevelt told the poeple what he was trying to accomplish.

Question 33

Emergency Banking Relief Act

Answer 33

Recovery&Reform, federal examiners would survey the nation's banks and issue licenses to those that were in financially good standing.

Question 34

Securities and Exchange Commission

Answer 34

Reform, regulate the stock market and prevent fraud.

Question 35

Glass-Steagall Banking Act

Answer 35

Reform, separated commercial banking from investment banking.

Question 36

Home Owners' Loan Corporation

Answer 36

Recovery, bought a homeowner's mortgage then allowed them to repay HOLC instead of repaying a bank.

Question 37

Farm Credit Administration

Answer 37

Recovery, refinance farmers mortgages so they could pay bank loans easily.

Question 38

Agricultural Adjustment Act

Answer 38

Reform, paid farmers to not grow crops.

Question 39

National Industrial Recovery Act

Answer 39

Reform&Recovery, business, workers, and the government worked together to "set rules" for each industry.

Question 40

Civilian Conservation Corps

Answer 40

Recovery, Allowed young men 19-25 to work planting trees, fighting forest fires, and building reservoirs.

Question 41

Federal Emergency Relief Administration

Answer 41

Relief, gave money to state and local governments.

Question 42

Public Works Administration

Answer 42

Reform, built highways, dams, sewer systems, schools, and government facilities.

Question 43

Civil Works Administration

Answer 43

Reform, updated airports, roads, schools, parks, playgrounds. Gave 4 million people jobs.

Question 44

National Labor Relations Act

Answer 44

Reform, guaranteed workers the right to organize in unions.

Question 45

Social Security Act

Answer 45

Reform&Relief, provided some financial security for senior citizens and unemployed workers.

Question 46

What was FDR's court packing plan and what was the response?

Answer 46

IF youve served for 10 years AND didnt retire within 6 months of turning 70 THEN the president could replace you. People thought FDR was trying to undermine the system and take over.

Question 47

Sit down strikes

Answer 47

people stopped working but stayed inside their workplaces and refused to leave

Question 48

The recession of 1937

Answer 48

Unemployment, industrial output fell, FDR cut back on budgets for his programs/policies.

Question 49

Keynesianism

Answer 49

The government should spend a LOT of money during a recession