Causes of the Depression Hoover & the Depression New Deal Programs More New Deal Programs Effects of the Depression

How much had the stock market grown between 1925 and 1929?

It had grown by 60 Billion dollars, or had tripled in value

What is installment buying?

It is when you obtain a good or service and you pay for it in small increments over a predetermined period of time.

What is Black Tuesday and why is it important to the Great Depression?

On Black Tuesday $16 Million in shares were sold beginning a downward spiral of the American economy, beginning the Great Depression

Explain what it means to buy stock on margin in 1929? (Be sure to give percentages)

It allows you to pay for only 10% of the overall share and allows you to borrow for the other 90% of the share value.

Explain, in detail, how the stock market crash led to the failure of many banks throughout America.

The banks had been loaning out money to people so they could buy stock on margin. This meant that when stock prices plummeted investors could not pay back their loans. Without loan repayment banks went bankrupt and were forced to close.

After Hoover’s failed attempts to right the economic collapse who replaced him as president?

Franklin Delano Roosevelt (FDR)

Why did farmers destroy much of their grain harvests in the early years of the depression?

So that they could lower the supply and get the prices to go up

What is a Hooverville and who lived in Hoovervilles?

These were small make shift towns outside the cities where the newly displaced, who had recently lost their homes, had to live

Who made up the Bonus Army and what did they want?

These were WW1 veterans and they wanted their service bonuses early. (They didn’t want to have to wait until 1945 to get them.)

Explain what the ‘trickle down’ economy is.

This is the idea that by supporting and keeping big businesses and banks open these corporations will be able to create more jobs and their prosperity will trickle down to the middle and lower classes.

What does CIO stand for?

Congress of Industrial Organization

Who did the NYA help?

It helped teens and young adults get part-time jobs so they could stay in school

What was the purpose of the TVA?

To produce low cost electricity to a seven state area around Tennessee

What were the TWO main goals of the Social Security Act?

1. Federal government would now fund state unemployment programs 2. Created retirement plans for people 65 or older

What was ONE the PWA and the CWA were similar and ONE way that they were different?

They both created primarily construction jobs BUT the CWA was so expensive it got shutdown after only a year in operation(They both helped build thousands of roads, schools, and towns halls in the process)

What does CCC stand for?

Civilian Conservation Corporation

Which two organizations helped to restore peoples faith in the stock market and American banks? (Must give full names, not acronyms)

Securities and Exchange Commission (SEC) and the Federal Deposit Insurance Corporation (FDIC)

How did the AAA help farmers?

The government paid farmers to produce less so prices who go up. (Farmer wages increased 50% under the AAA)

How did the NLRB and the CIO help workers throughout the country?

They helped create new labor unions and helped protect any workers who wanted to join these unions.

How was the WPA unique from other New Deal organizations AND why was it so well likely by the American public?

If found people jobs that made use of skills they already had (acting, music, artist, etc.) and it helped bring back different forms of entertainment for people during the Great Depression

What was ONE way that the New Deal changed the American workplace?

1. More women entered the workforce to supplement family incomes 2. People of all races were hired in almost all fields due to the high demand for jobs. 3. Safety, hours, and wages all improved due to stronger unions

Whose lives were affected the most by rural electrification?

Farmers

How were the aged, unemployed, and dependent children effected by the New Deal?

They were given Social Security and welfare programs

Name TWO ways that industrial workers were supported by the New Deal

New Deal helped strengthen labor unions and expanded bargaining agreements between employers and employees

What was the New Deal’s largest impact on American government?

That supported private enterprise but also emphasized the importance of government regulation

FINAL JEOPARDY Category: The New Deal

What were the THREE main goals of FDR’s New Deal programs? (Be sure to explain each one)

1. Recovery – from the Depression 2. Relief – for the victims of the depression 3. Reform – The American economic system