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Great depression and new deal study questions Flashcards

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1
Q

What is a fad, what fads emerged in the 1920s

A

-extremely popular things, but only for a short time
-ex:mini golf, pole sitting, crossword puzzles

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2
Q

What new innovations change the way people spent their free time?

A

Radios, movies

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3
Q

What celebrities emerged in the 1920s?

A

Charlie Chaplin, Babe Ruth, Amelia Earhart,

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4
Q

What was happening to peoples incomes in the 1920s?

A

Incomes were going up, (for the Rich) -
-disposable income (spending $$ after basic needs)

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5
Q

What is buying on margin? How did it lead into trouble?

A

-Borrowing money to buy stock

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6
Q

What were the selling points of buying on margin?

A

That you could strike it Rich 

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7
Q

How was the stock market prior to October 1929

A

Everyone was making money (fake, most was borrowed)
-bull market (good)

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8
Q

What was black Tuesday? What was the results? How are people affected?

A

-October 29, 1929, stock market CRASHED
—people panicked about stock going down —-> many sold their stock (now worth 0)

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9
Q

What happened to the Banking Industry as a result of the stock market crash?

A

-Suffered major losses, had to close
-Weren’t repaid loans, many try to get loans but bank couldn’t handle them

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10
Q

How did businesses react to the economic crisis? How did this affect workers? What was the unemployment rate during the great depression?

A

Cut producing and layoff workers
24% of adult Americans = NO JOB

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11
Q

Recession

A

A decrease in economic output

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12
Q

Depression

A

A recession that is SEVERE or last for a long time

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13
Q

What were Hooverville’s?

A

People who built shelters because they had to leave their homes, cardboard (named after president hoover)

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14
Q

How did the Great Depression affect minorities? Women?

A

First to be laid off, easier to keep low paying jobs

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15
Q

Who was the president when the stock market crashed? his reaction?

A

Herbert Hoover (R)
-wanted gov to stay hands off

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16
Q

How did the depression affect farmers?

A

Struggling even before (1920’s)
No profit, low prices
Dust bowl

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17
Q

Bonus army

A

A group of veterans that want the government to immediately give the bonus (rioting and protesting)

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18
Q

Franklin D Roosevelt

A

Democrat, won 1932 election, elected 4 times

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19
Q

New Deal

A

A series of government programs (By FDR) to try and help pull the US out of the depression

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20
Q

How did FDR try to address the bank crisis?

A

-Closes ALL banks
-only opens the stable ones
- emergency banking act

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21
Q

FDIC

A

Federal, Deposit, Insurance, Corporation: ensures peoples deposits, even if a bank closes

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22
Q

SEC

A

Regulated stock market and monitored

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23
Q

21st amendment

A

Made alcohol legal again (tax profit and jobs)

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24
Q

Public works administration

A

Federal money going to construction projects (schools, bridges) to CREATE JOBS

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25
Agricultural adjustment act
Government paid farmers to not go certain crops, we didn’t need anymore of
26
Why did people business leaders criticize the new deal?
Said it took away from capitalism, beginning of socialism
27
Civilization conservation corps
Army style camps for young men to work, (Build Roads, telephone poles) and they send money back to their family
28
Tennessee Valley Authority
Federally, funded dam projects, brought electricity to the farmers
29
Works progress administration
Government employed teachers, writers, Factory work (some more people could have jobs)
30
Social Security act
A tax workers pay, when you turn 65 you get a retirement check for doing so
31
What three voting blocks helped FDR when in 1936
African-Americans, southern, farmers, labor unions
32
What was the issue with FDR and the Supreme Court?
-Supreme Court was declaring his new deals laws unconstitutional, so he wanted to court pack (add 6 members of his choosing, so they would pass)
33
Speculation
Gambling stock prices, no basis in reality (unrealistic stock)
34
Business cycle
Periodic growth and contraction of the economy
35
Hawley-Smoot tariff
Raise prices on foreign imports, so they couldn’t compete in market
36
What problems plagued the agricultural sector?
Increased, harvest yields Buying expensive tractors/equipment ——-> debt (rural depression, can’t keep up with market)
37
What were the problems with easy credit?
People became in mass that because of expensive things they bought (cars, radios, appliances)
38
How did the depression go global
Hawley-Smoot tariff World shakey economy The international economy couldn’t be funded by US anymore
39
Bread line
Hand out lines from charities
40
Tenant farmers
Farmers, working for bigger landowners than themselves
41
Okies
Dust bowl refugees
42
How did poverty devastate rural America? 
FARMERs lost money and farms
43
How did desperation cause migration
People migrated from south/Midwest to find jobs opportunities
44
How did the depression attack family life?
Parents try hard to provide for family, family discipline declined
45
How did minorities suffer hardships
They lost their jobs first
46
Localism
Policy were problems could be solved at local levels
47
Trickle down economics
Theory that money paused at the most wealthy, and trickled down to the poorest
48
Eleanor Roosevelt
FDR’s wife (First Lady) Involved with public affairs
49
Charles Coughlin
Catholic priest, who said FDR wasn’t doing enough about the depression, against New Deal
50
Huey Long
Senator, who said, “share our wealth” against new deal
51
How did FDR try to put together a winning team?
Brain trust: a group of influential men and women
52
How did conservatives react to FDR’s new deal?
Said Gov was way too involved That it destroys, free enterprise
53
How did FDR’s new deal go over with the far left and populists
Angry that it didn’t fully stop the depression (FDR only cares about banking system)
54
John Maynard Keynes
British economist that argued deficit spending was needed to end the depression
55
Pump priming
The theory of John Maynard Keynes
56
How did FDR try to provide more aid to farmers
By giving electricity to isolated rule areas, so farmers could work longer
57
How did worker scan you right? How did they use the rights?
Gain rights to collective bargaining ‘ Unions and workers negotiated about hours, wages, and work conditions
58
Black cabinet
The president invited African-American leaders to advise him
59
New Deal Coalition
Legendary, political skills, united on unlikely American Groups
60
Welfare state
A program where “everyone in the country is included”
61
How did the new deal create a new political Coalition?
By talking to a diverse group to make things equal
62
How did the new DL be to the government playing a larger role in the economy?
Became employers to the unemployed, help spread economic growth
63
How did the new deal affect the environment?
The dust bowl was also ended by hard work, preserved environment
64
How did the new deal create a welfare state?
Americans receive direct benefits from government, the new deal established that the government was responsible for the care of US citizens
65
How did the new deal change the nature of the presidency?
Executive branch gained more power, presidential power grew to balance the other branches of government, many new federal agencies were created

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