Unit 8 The Great Depression

Question 1

What were the primary causes of the Great Depression?

Answer 1

excessive lending, US Monetary Policy, Stock Market Speculation, Stock Market Crash of 1929

Question 2

How did the Great Depression affect American families?

Answer 2

Families were unable to make mortgage or rent payments, and many were deprived of their homes or were evicted from their apartments

Question 3

To what extent did the role of the federal government expand during the Great Depression?

Answer 3

The federal government changed drastically during the Great Depression of the Civilian Conservation Corps (CCC) and the Emergency Banking Act.

Question 4

To what extent did the power of the presidency increase during the administrations of Herbert Hoover and Franklin Roosevelt?

Answer 4

The power that the president had increased by the 100 Days of President and the Fireside Charts.

Question 5

Describe the causes of the Stock Market crash

Answer 5

there was speculation which increased fear and panic

Question 6

Describe the ways in which New Deal programs attempted to provide Relief, Recovery, and Reform during the Great Depression

Answer 6

Emergency Bank Act was meant to repair failing banks and give the banks a day to recover. This is an example of relief. Federal Deposit Insurance Corporation was meant to gain back people’s trust in banks by the government giving insurance to the banks so they could insure people’s money. This is an example of recovery. Securities and Exchange Commission is to keep investors safe from fraudulent companies or misinformation about stocks. This is an example of reform.

Question 7

Evaluate the legacy of the New Deal using primary and secondary source materials

Answer 7

People criticized that the government wasn’t involved enough and also that the involvement of the government was too much.

Question 8

What is the bull market?

Answer 8

the condition of a financial market in which prices are rising or are expected to rise

Question 9

What is over speculation?

Answer 9

when stocks become worth a lot more than the actual value of the company

Question 10

Overproduction/
Underconsumption

Answer 10

Overproduction was when people were producing more goods than people wanted or could afford. Underconsumption is that were not enough people to consume the goods.

Question 11

What are bank runs?

Answer 11

This is when a large group of depositors withdraw their money from banks at the same time

Question 12

What is Rugged Individualism?

Answer 12

This indicates that an individual is self-reliant and independent from outside,

Question 13

What are bank runs?

Answer 13

This is when a large group of depositors withdraws their money from banks at the same time

Question 14

What is the New Deal?

Answer 14

This was a series of programs, public work projects, financial reforms, and regulations. This new deal consists of 3 R’s: relief, recovery, reform

Question 15

What is the First New Deal?

Answer 15

100 Days of Congress - Congress gave Roosevelt lots!! of freedom because of the desperate nature of the Depression, many changes in FDR’s first 100 days. Lots of presidents now make campaign promises about what they’ll get done in their first 100 days

Question 16

CCC

Answer 16

Civilian Conservation Corps. Unemployed 18-25 yr old men could work. They planted trees, fought forest fires, and built reservoirs. They were also taught to read and write. This is relief

Question 17

HOLC

Answer 17

Home Owner’s Loan Corporation. They bought the mortgages of homeowners who were in payments and restructured to give people more time to pay, lower monthly payments, and lower interest rates. This is relief

Question 18

AAA

Answer 18

Agricultural Adjustment Act. Through the AAA, the government gave subsidies (money) to farmers to destroy crops, kill livestock and reduce the overall supply of farm goods and limited the supply, raised the prices which helped farmers. This is reform

Question 19

NRA

Answer 19

National Recovery Administration. Setup codes/rules for fair competition and set prices, minimum wage, shift limitations, shorter work hours, right to form unions, and kept those actually employed from being taken advantage of. This is reform

Question 20

FDIC

Answer 20

Federal Deposit Insurance Corporation. Insurance provided by the federal government for people’s bank deposits
and each depositor’s account is insured up to $250,000. This is reform

Question 21

SEC

Answer 21

Securities and Exchange Comission. Required that companies who sold stocks and bonds provided complete and truthful information to their investors
Regulated stock market to prevent fraud. This is recovery

Question 22

TVA

Answer 22

Tennessee Valley Authority. Brought power and electricity to areas ignored by private companies, built dams, reforestation. This is recovery

Question 23

What is the social security

Answer 23

They are a social insurance program that consists of retirement, disability, and survivor benefits

Question 24

WPA

Answer 24

Works Progress Administration. Directly employed people to build bridges, airports, schools, parks, water lines, and theaters; employed women in sewing, classrooms. This is relief

Question 25

What is the Wagner Act?

Answer 25

It gave employees the right to form and join unions, and it obligated employers to bargain collectively with unions selected by a majority of the employees in an appropriate bargaining unit.

Question 26

What was the cause of the stock market crash?

Answer 26

stock market speculation

Question 27

How did Hoover respond?

Answer 27

He responded with American Individualism

Question 28

How did Roosevelt respond?

Answer 28

He responded with the New Deals