The Great Depression

Question 1

speculation

Answer 1

bought stocks and bonds on the chance of a quick profit,

Question 2

Foreclosure

Answer 2

the process by which a mortgage holder takes back property if an occupant has not made payments.

Question 3

Unemployment Rate

Answer 3

the number of unemployed people as a percentage of the labor force

Question 4

Direct Relief

Answer 4

cash payments or food provided by the government to the poor.

Question 5

Hoovervilles

Answer 5

a direct slap at the president’s policies.

Question 6

Bank Runs

Answer 6

A bank run or run on the bank occurs when many clients withdraw their money from a bank

Question 7

Dust Bowl

Answer 7

One windstorm in 1934 picked up millions of tons of dust from the plains and carried it to East Coast cities. The region that was the hardest hit, including parts of Kansas, Oklahoma, Texas, New Mexico, and Colorado,

Question 8

Bonus army

Answer 8

demanding immediate bonus payment for wartime services to alleviate the economic hardship of the Great Depression.

Question 9

Rugged Individualism

Answer 9

the idea that people should succeed through their own efforts

Question 10

Buying on The Margin

Answer 10

Buying on margin means purchasing shares with mostly borrowed money, and because people were overconfident about the market, people felt comfortable taking on loans and banks felt comfortable issuing loans.

Question 11

Hawley-Smoot Tariff

Answer 11

raised import duties to protect American businesses and farmers, adding considerable strain to the international economic climate of the Great Depression.

Question 12

Reconstruction Finance Corporation (RFC)

Answer 12

was a new government-sponsored financial institution whose purpose was to lend directly to banks and other financial institutions including those without access to Federal Reserve credit facilities