66 terms

Economy in the late 1920s

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When Hoover took office in 1929, most Americans expected
Prosperity to continue
Generally, the 1920s were marked by
Rising stock prices
The huge rise in stock market in the 1920s mainly benifited
Rural banks
Consumers' desire for exciting new products led to
An increase on personal debt
Despite the prosperity of the 1920s, life remained hard for many
Farmers and factory workers
In the fall of 1929, a wave of panic selling gripped the stock market as a result of
A sudden fall in stock prices
The crash led to
Unemployment for millions of workers
One of the underlying causes of the Great Depression was the United States's
Unstable economy
Which statement best describes the federal reserve system?
It was established in 1913 and continues to regulate the money supply today
By the end of the 1920s, buying slowed because
Most people owed more money than they could afford to pay back
During the depression, wage cuts and unemployment eventually affected
All levels of society
Those hit hardest by the Depression were
low paid laborers
The rise in homeless mainly resulted from
Laid off workers loosing their homes
Many farms were auctioned off when farmers
Could not pay their mortgages
During the Depression working women were
Accused of taking jobs away from men
During the Depression many members of minority groups
Lost their low paying jobs to whites
Which activity would the "Depression generation" avoid?
Buying expensive on credit
Why did people use humor during the Depression?
To help fight despair
How did federal reserve affect investment in the stock market during most of the 1920s?
If kept interest rates low, and people borrowed money to invest in stocks
What was the reaction of president Hoover and congress when the Great Depression first began?
They did not take action because they believed economy could fix itself
How did president Roosevelt help farmers during the Great Depression
He paid farmers to destroy crops and leave fields unplanted
The reconstruction finance cooperation aimed to
Provide government credit to banks
To get bonus army marchers to leave capitol, general MacArthur
Used force
Roosevelt easily won the 1932 presidential election by promising
A new deal for Americans
The election of 1932 was a turning point in the roll of
Government in American society
New deal
Roosevelts plan to pull the nation out of the Depression
Public Works Administration
Government funded jobs program for building facilities open to everyone
Wagner act
Legislation that strengthened the rights of labor unions
Social security system
Providing for those who could not support themselves
Which of the following best characterizes rooselvelts first 100 days?
He pushed congress into legislation to improve the economy
How did Roosevelts programs help farmers?
By giving financial assistance to farmers
Which statement best describes Roosevelts bid for the reelection in 1936?
He only won Maine and Vermont
New deal jobs gave strong preferences to
Men and boys
People who believed that the new deal as being socialistic were mainly
Wealthy republicans
Frustrated by a Supreme Court that had invalidated new deal programs and
Pack the court with justices he chose
The massive government spending the of the new deal led to
Same short term economic improvement
Under the new deal, labor unions were
Legalized and grew stronger
The most popular movies helped theater goers
Escape the gloom with f the Depression
How did the new deal respond to unions during the Great Depression?
Workers were guaranteed the right to organize unions
After World War II, the Hartley act
Limited rights of unions
Which statement best describes opponents of the new deal?
They all thought it's programs did not help enough
Which statement best describes the human toll of the Great Depression?
All types of people suffered in all areas of the country
The dust bowl was caused by
Drought, winds, and poor farming
How did the new deal coalition affect politics in the United States?
It brought together a variety of groups that supported the Democratic Party
How did the new deal affect minority groups?
Minority groups became more politically active during the new deal
Most victims of the dust bowl moved to?
California
New deal labors policies and programs generally
Supported fair labors practices including a minimum wage for workers
The WPA and CCC programs showed Roosevelts belief in
Creating government jobs to get back to work
New deal farm programs were designed to reduce supply and raise prices, opponents on ejected because
It was wrong to limit production of food when people where hungry
Projects like the Tennessee valley authority and Central Valley project in California
Harnessed natural resources to improve quality of life in those areas
Social security was established during the new deal to provide pensions for retired workers. It also provided
Assistance for children and disabled people
Ho did the new deal affect governments role in economy?
Government took a more active role in managing the economy
Reconstruction Finance Corporation
The Reconstruction Finance Corporation (RFC) was a government corporation in the United States between 1932 and 1957 that provided financial support to state and local governments and made loans to banks, railroads, mortgage associations, and other businesses.
Tennessee Valley Authority
The Tennessee Valley Authority (TVA) is a federally owned corporation in the United States created by congressional charter on May 18, 1933 to provide navigation, flood control, electricity generation, fertilizer manufacturing, and economic development to the Tennessee Valley, a region particularly affected by the
Workers Progress Administration
The Works Progress Administration (renamed in 1939 as the Work Projects Administration; WPA) was the largest and most ambitious American New Deal agency, employing millions of unemployed people (mostly unskilled men) to carry out public works projects, including the construction of public buildings and roads.
Federal Reserve System
The Federal Reserve System (FRS) is the central bank of the United States. The Fed, as it is commonly known, regulates the U.S. monetary and financial system
Hawley Smoot Tariff
The Tariff Act of 1930 (codified at 19 U.S.C. ch. 4), otherwise known as the Smoot-Hawley Tariff or Hawley-Smoot Tariff, was an act sponsored by Senator Reed Smoot and Representative Willis C. Hawley and signed into law on June 17, 1930. The act raised U.S. tariffs on over 20,000 imported goods.
Tariff
a tax or duty to be paid on a particular class of imports or exports.
Hoovervilles
a shantytown built by unemployed and destitute people during the Depression of the early 1930s.
Black Tuesday
October 29, 1929. On this date, share prices on the New York Stock Exchange completely collapsed, becoming a pivotal factor in the emergence of the Great Depression.
Civilian Conservation Corps
The Civilian Conservation Corps (CCC) was a public work relief program that operated from 1933 to 1942 in the United States for unemployed, unmarried men from relief families as part of the New Deal.
Public Workers Administration
Public Works Administration (PWA), part of the New Deal of 1933 (renamed in 1935 as the Work Projects Administration; WPA) , was a large-scale public works construction agency in the United States headed by Secretary of the Interior Harold L. Ickes
Second New Deal
The Second New Deal (1935-36) is the term used by commentators at the time and historians ever since to characterize the second stage, 1935-36, of the New Deal programs of President Franklin D. Roosevelt.
National Labor Relations Board
The National Labor Relations Board (NLRB) is an independent US government agency with responsibilities for enforcing US labor law in relation to collective bargaining and unfair labor practices
Federal Deposit Insurance Corp
The Federal Deposit Insurance Corporation (FDIC) is the U.S. corporation insuring deposits in the United States against bank failure. The FDIC was created in 1933 to maintain public confidence and encourage stability in the financial system through the promotion of sound banking practices.
American Liberty League
The American Liberty League was an American political organization formed in 1934, primarily of wealthy business elites and prominent political figures because they opposed the New Deal of Franklin D. Roosevelt. It was highly active for just two years.