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U.S. History
Great Depression
| Question | Answer |
|---|---|
| Living on credit | Many people had over extended themselves. When it came time to pay off loans they can't. Plus they are not buying new products. |
| Buying on speculation | Bought stocks on the chance that they might make a quick profit, not really on the basis of the product. |
| Buying on margins | Paying a small percent of the stocks price as a down payment and borrowing the rest. |
| Direct relief | Aid from the government for the poor. |
| National Credit Corporation | Loaned money to smaller banks so they wouldn't go bankrupt. |
| Three goals of the new deal | Relief, reform, and recovery. |
| Works Progress Administration | Gave five billion to create work projects (repair roads,build schools,build libraries, build hospitals, make clothing for the needy). |
| National Youth Administration | Gave part time jobs to high school and college students. |
| What is the National Labor Relations Act also known as? | Wagner Act. |
| Wagner Act | Gave workers the right to join unions. Set a minimum wage. Set maximum workweek. Banned factory labor for workers under sixteen years old. |
| Social Security System | Gave a supplement retirement plan for retirees sixty five and older. Unemployment compensation. Aid to families with dependent children and disabled. |
| Who was the first women appointed to a cabinet position? | Francis Perkins. |
| Who helped organize the black cabinet? | Mary McLeod Bethune. |
| Memorial Day Massacure | Steelworkers at Republic Steel were striking, police attacked, 10 people killed and dozens wounded. |
| Securities and Exchange Commision | Continues to regulate the stock market. |
| Federal Deposit Insurance Corporation | Continues to insure individual accounts up to $250,000. |
| Social Security | Government assumed some of the responsibility to help retired and unemployed workers to escape poverty. |
| New Deal programs looked to do what with the environment? | To protect the environment by planting trees, protecting natural resources, and creating a national park system. |
| Tennessee Valley Authority | Used water to generate electricity and prevent flooding in the Tennessee Valley. |