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Great Depression

QuestionAnswer
Why were farmers losing money during 1920's and 1930's? Europe was not buying food after WW1 so farmers lose money.They Dust Bowl buried all the good soil so farmers could not plant crops. If you can not plant crops, then you could not sell any food which made you lose money.
What hardships did families face during the depression? 3 examples and explain. Many people were unemployed and did not have any jobs, so families could not afford to buy food. Bread lines offered food to the hungry. Many people were homeless and lived in boxes.Children worked after school or dropped out, some ran away.
Describe what life for farmers was like in the dust bowl. 3 examples and explain. Crops were buried under layers of dirt on top of rich soil, which made planting hopeless. Farmers loaded their belongings onto trucks and set off to find work. Many fled the Dust Bowl and made their way to California. California farm towns were overcrowd
What was the CCC? What was the purpose? How did it help? Civilian Conservation Corps. They planted trees, build dams, and worked on other conservation projects. It gave people jobs and helped the environment
What was the AAA? What was the purpose? How did it help? Agricultural Adjustment Administration. It regulated farm production and promoted soil conservation. It helped conserve soil=less dust storms, made it last. Farmers made less and prices went up.
What was the FDIC? What was the purpose? How did it help? Federal Deposit Insurance Corporation. It protected the money of depositors in insured banks. People would not lose savings. People kept money in bank=Banks can give out loans
What was the REA? What was the purpose? How did it help? Rural Electrification Administration. It brought electricity to rural areas. It helped the community, allowed people to use radios, life is better, and it gave people jobs.
Define buying on the margin. People paid a small part of a stocks price as a down payment and borrowed the rest.
What problems can arise when you buy on the margin? Borrowers could not repay their loans because they had to sell the stock for less than they paid for it.
How did businesses/factories play a role in creating the Great Depression? Factories were producing too many goods. People were not buying any goods because they did not have any money, so factory workers lost their jobs.
Why did many banks fail during the Great Depression? People borrowed money to buy stocks. When the stock market crashed, people could not pay their loans back. Banks lost money then failed and people lost their savings
Hoover started public works projects. They did not boost the economy. Why? too little too late
Why did many people blame hoover for their suffering? he never helped anyone during the depression
What was a downfall of buying on credit? debt can grow
What happened on October 23, 1929? Why did this happen? prices dropped sharply so people tried to sell thousands of stocks before their value dropped further.
How was the Great Depression different from earlier economic depressions? no other depression was much suffering and long lasting
How did FDR restore confidence in banks? 3 ways and explain how they helped. He shut down all the banks to have a fresh start. Then he only reopened the banks that were in good shape to not have as many banks. Finally, he told people to put money in the banks.
What changes occurred for women during the Great Depression? more women held positions with the government than ever before
How were minorities affected by the depression? FDR included Africans in government but failed to back civil rights laws.Mexicans had difficultly finding jobs and received less aid.Many returned to Mexico but others were forced to.Congress passed the Indian Reorganization Act,restored some lands to Ind
What changes were there to the Federal Government after the Great depression? FDR proposed bills and programs for Congress to consider instead of waiting for Congress to act.
What is a liberal? a liberal favors government action to bring about social and economic reform
What is a conservative? a conservative favors fewer government controls and more individual freedom in economic
Created by: v_galustian