The Great Depression Flashcards
what was the biggest long-term effect of the New Deal?
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why was social security put in place originally?
to provide economic security to the citizens
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why did FDR put the FDIC into existence?
After the great depression, there was no insurance coverage for the deposits at the time of the Depression, customers ran the risk of losing the value of their deposits if the bank failed. so it was a permanent agency of the government and provided permanent deposit insurance maintained at the $5,000 level.
what was FDR best known for during the Great Depression?
he established the New Deal program a program of economic recovery.
what was the “Great Migration”?
more than 6 million African Americans from the rural South to the cities of the North, Midwest and West from 1916 to 1970, had a huge impact on urban life in the United States.
why did Huey long dislike the new deal policies of FDR?
he believed that FDR’s plan to help the American economy after the Great Depression did not equally help citizens living in poverty.
who did the Great Depression hit the hardest?
the poor, most were unemployed and struggling
what were some of the effects of the Great Depression worldwide?
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how did Herbert Hoover respond to the depression?
he tried to fix the Great Depression by doing projects like the Hoover Dam which was designed to help jump start the economy and add jobs. He passed the Loan Bank Act to help with mortgage rates and the Reconstruction Finance Corporation to help emergency financing to banks. but he was late to fix it
what was the effect of the radio, sports and art on society during the Great Depression?
help people get things off their mind and have fun for once and relieve all the stress
