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111Dep. and New Deal
111Throck Depression and New Deal
| Question | Answer |
|---|---|
| Method of buying stock using mostly borrowed money? | margin |
| method of buying stock putting down 10% cash and taking out a loan for the rest? | margin |
| What effect did the Hawley-Smoot Tariff have on U.S. trade with foreign countries? | it reduced trade by 40% |
| How did Hoover react to the Depression? | thought it would blow over; did not increase government spending dramatically |
| What was Hoover's opinion of direct relief? | He believed it was the job of state and local governments, and volunteers. |
| Which New Deal program created jobs by giving contracts to contruction companies? It also broke down racial barriers. | The Public Works Administration |
| The Public Works Aministration forced construction companies to hire who in order to get the government contracts? | African Americans |
| How did depositors lose their money in 1929? | because banks collapsed after losing deposits in the stock market |
| What contributed to the Depression by keeping interest rates low enough to encourage too much debt? | The Federal Reserve |
| How did Hoover plan to provide jobs that had been lost in the private sector? | public works; although he did not create enough |
| Who came to Washington in 1932 to lobby Congress to get thier $1000 bonus early? | The Bonus Army |
| How did the assembly line help contribute to the Depression? | caused over production |
| How can the government pay for public works, other than raising taxes? | borrowing from banks |
| What agency did Hoover create to loan money to banks, railroads, and farmers? | Reconstruction Finance Corporation |
| What was Roosevelt's first plan of action when elected? | restore people's faith in the banks by setting up the Emergency Banking Relief Act |
| What FDR agency was created to regulate the stock market and prevent fraud? | Securities and Exchange Commission (SEC) |
| How did Roosevelt choose his advisors? | He chose men from different backgrounds who disagreed with each other, that way he could get a lot of different ideas |
| What one thing did all of FDR's advisors agree on? | government intervention in the economy (no laissez-faire) |
| What FDR act closed all banks and sent federal examiners to to issue license to those sound enough to open, and forced the rest to remain closed? | Federal Emergency Banking Relief Act |
| What New Deal legislation lengthened the time to repay mortgages and lowered interest rates for people who had a job? | Home Owner's Loan Corporation |
| What federal works program had the Federal Number One portion, which hired artists? | Works Progress Administration (think of it as making "Progress in culture") |
| Who were people who made risky stock investments in hopes of getting rich quick, but actually helped contribute to the Crash of 1929? | speculators |
| What caused many people to want to invest in stock and even buy on margin? | overconfidence caused by the Bull Market. |
| FDR's policies for ending the Depression were known as? | The New Deal |
| What effect did the New Deal have on the Depression? | It did not end the Depression, but it made life for bearable. |
| How did FDR communicate with the public about his programs? | "fireside chats" |
| What was the main argument of critics of the New Deal? | deficit spending |
| When banks began closing, what happened? Also, these increased when Roosevelt was elected because many people feared he would abandon the gold standard. | bank runs |
| What day did the stock market take the biggest dive? | Black Tuesday- Oct. 29, 1929 |
| What is a stock broker's demand for immediate repayment of loans? | margin call |
| Which New Deal agency directly hired workers, rather than awarding gov't contracts to companies, to work in construction jobs? | Civil Works Administration (like the government is paying a civilian) |
| What agency awarded contracts to construction companies, but did not pay workers directly? | Public Works Administration (Like the contract went to a public company) |
| What act separated commerical banks from investment banks, prohibiting commercial banks from investing people's deposits in the stock market? | Glass-Steagall Act |
| What two New Deal Programs are still in effect today (there are actually more than 2) | Federal Depositors Insurance Corporation (FDIC) Social Security |
| Drought (THAT DRIED THE SOIL) AND POOR FARMING PRACTICES LED TO WHAT? | the Dust Bowl |
| What did state governors do to prevent bank runs after FDR was elected? | declared bank holidays |
| What New Deal agency tried to help farmers by paying them not to grow crops, in efforts to reduce supply and increase demand? | Agricultural Adjustment Adminstration |
| List the causes of the Depression | 1. low interest rates 2. uneven distribution of wealth 3. stock market crash 4. over production 5. decreased buying power ect... |
| What is money given directly to families called? (Hoover did not approve) | direct relief |
| Who was the Bonus Army? | WWI vets who marched on Washington to get their bonus early. |
| What disease left FDR paralyzed? | polio |
| What is the period of time in 1933 when FDR send bill after bill to Congress? | Hundred Days |
| What is deficit spending? | spending more money than you make in taxes...FDR was critcized for this and Hoover tried to avoid this |
| Who was ordered by Hoover to clear out the Bonus Army, but disobeyed orders and used tear gas? | Douglas MacArthur |
| What happened to farms and homes when people could no longer make thier payments? | they were foreclosed on |
| What New Deal program covered people's bank deposits against loss? | FDIC, still around |
| What New Deal Agency employed men between the ages of 18 and 25 in the national forestry service? | Civilian Conservation Corp |
| Shantytowns were often called this | Hoovervilles |
| What did Hollywood movies and radio shows reflect? | People's desire to "escape" thier lives for a while |
| What happened to the role of the federal government as a result of the New Deal? | Gov't became a safety net |
Created by:
davislauren
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