5 Written Questions
5 Matching Questions
- Black Tuesday and Thursday
- Fair Labor Standards Act
- Federal Emergency Relief Administration
- Public Works Administration
- Gross National Product
- a - Relief for unemployed
- Offered outright grants of federal money to states and local governments that were operating soup kitchens and other forms of relief for the jobless and homeless
- b 1) Minimum Wage (initially fixed at 40 cents an hour)
2) A maximum workweek of 40 hours and time and a half for overtime
3) Child-labor restrictions on those under 16
- c - Relief for the unemployed
- Allotted money to state and local governments for building roads, bridges, dams, and other public works.
- Such construction projects were a source of thousands of jobs
- d - The value of all the goods and services produced by the nation in one year.
- Dropped from $104 billion to $56 billion in four years, while the nation's income declined by over 50 percent
- e - Although stock prices had fluctuated greatly for several weeks preceding the crash, the true panic did not begin until a Thursday in late October.
- On October 24, 1929, there was an unprecedented volume of selling on Wall Street, and stock prices plunged. A group of bankers bought millions of dollars of stocks in an effort to stabilize prices.
- On October 29, the bottom fell out, as millions of panicky investors order their brokers to sell, when they were practically no buyers to be found.
5 Multiple Choice Questions
- - Was actually created in 1929, before the stock market crash, but its powers were later enlarged to meet the economic crisis.
- Was authorized to help farmers stabilize prices by temporarily holding surplus grain and cotton in storage.
- The programs, however, was much too modest to handle the continued overproduction of farm goods.
- - Encouraged farmers to reduce production (and thereby boost prices) by offering to pay government subsidies for every acre they plowed under.
- - Spent billions of dollars between 1935 and 1940 to provide people with jobs.
- It employed 3.4 million men and women who had formerly been on the relief rolls of state and local governments. It paid them double the relief rate but less than the going wage for regular workers.
- Most workers were put to work constructing new bridges, roads, airports, and public buildings.
- - Provided loans to sharecroppers, tenants, and small farmers.
- Established federal camps where migrant workers could find decent housing
- - Relief for people out of work
- Recovery for business and the economy as a whole
- Reform for American economic institutions
5 True/False Questions
Social Security Act → - returned lands to the control of tribes and supported the preservation of Native Americans cultures.
Securities and Exchange Commission → - Was created to regulate the stock market and to place strict limits of the kin of speculative practices that had let to the Wall Street crash in 1929
Federal Housing Administration → - Gave both the construction industry and homeowners a boost by insuring bank loans for building new houses and repairing old ones
Bonus March → - A thousand unemployed WWI veterans marched to Washington DC, to demand immediate payment of bonuses promised them at a later date.
- Used tanks and tear gas to destroy the march and drive the veterans from Washington.
Reconstruction Finance Corporation → - This federally funded, government-owned corporation was created by Congress early in 1932 as a measure for propping up faltering railroads, banks, life insurance companies, and other financial institutions.
- Reasoned that emergency loans would help to stabilize these key businesses.
- The benefits would then "trickle down" to smaller businesses and ultimately bring recovery.