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LD SS CH 25
LD SS CH 25 GREAT DEPRESSION TEST
| Term | Definition |
|---|---|
| HERBERT HOOVER | Republican |
| HERBERT HOOVER | Laissez Faire/Tax Cuts to businesses |
| HERBERT HOOVER | President during the Great Depression |
| FRANKLIN D. ROOSEVELT | Democrat |
| FRANKLIN D. ROOSEVELT | Believed that government should be more involved |
| CAUSES OF GREAT DEPRESSION | Republican Economic Policies, Real Estate & Stock Speculation, Stock Market Crash & Bank Failures, Overproduction, Decline in Farming Industry & Unequal Wealth Distribution. |
| REPUBLICAN ECONOMIC POLICIES | Pro-business policies and Trickle down economics |
| TRICKLE DOWN ECONOMICS | Tax cuts to wealthy in hope they will reinvest money and prosperity so that it will "flow" down to lower class. Theory did not work as it only increased the gap between the rich and poor. |
| REAL ESTATE & STOCK SPECULATION | Many people invested in California and Florida hoping to make a quick profit. People stopped moving west. Many fraudulent schemes (Ex: Beachfront properties). People were also buying many items on margin (credit). |
| SPECULATION | Making a risky investment to make a quick, large profit |
| STOCK MARKET CRASH | Black Thursday (Oct 1929). People began to panic that the stock prices were going to fall so they sold their stock causing it to plummet. |
| BANK FAILURES | Many banks closed due to little government regulation (Laissez Faire. Many banks had used depositors money to invest in stock market. 25% of Banks failed due to little government regulation. |
| OVERPRODUCTION | During the 1920s, demand for goods increased (high consumer demand, higher wages, new technology). By 1929, demand for goods decreased and people could no longer afford goods which led to decreased prices. Supply was greater than Demand |
| BUYING ON CREDIT | Buy now - Pay Later. |
| DECLINE ON FARMING INDUSTRY | During WWI, farmers borrowed money from banks to buy new equipment. As demand for farm products decreased, especially overseas, farmers could no longer repay loans. |
| EFFECTS OF GREAT DEPRESSION | Unemployment, Homelessness in Cities, Homelessness for Farmers |
| UNEMPLOYMENT | Many people lost their jobs because the owner of the business could not pay all of the workers. |
| HOMELESSSNESS IN CITITES | People had to sleep in streets or in apartments with 5 other families. People did not have enough money to buy a house. |
| HOMELESSNESS FOR FARMERS | They could not make money in the West because there was unfertile land and winds kicked up the dust and killed crops. "Dust Bowl" |
| FRANKLIN D. ROOSEVELT | NEW DEAL |
| AAA | Agricultural Adjustment Act |
| AAA | Relief |
| AAA | Paid farmers to do nothing so farm prices would go up. |
| BANK HOLIDAY | Relief/Recovery |
| BANK HOLIDAY | Shut down banks so that people could not spend money |
| TVA | Tennessee Valley Authority |
| TVA | Recovery |
| TVA | Created electricity in the south with dams |
| CCC | Civilian Conservation Corps |
| CCC | Recovery |
| CCC | Created environmental jobs |
| FHA | Federal Housing Administration |
| FHA | Reform |
| FHA | Regulates mortgages and housing conditions |
| SEC | Securities and Exchange Commission |
| SEC | Reform |
| SEC | Managed the Stock Market |
| FLSA | Fair Labor Standards Act |
| FLSA | Reform |
| FLSA | Eliminates child labor and established minimum wage and overtime |
| SSA | Social Security Act |
| SSA | Reform |
| SSA | Created system of pensions |
| FDIC | Federal Depositors Insurance Corporation |
| FDIC | Reform |
| FDIC | Insures deposits for up to $250,000 |
| FIRESIDE CHATS | FDR went on the radio to explain to people what was going on. |
| POSITIVES OF NEW DEAL | Governments responsibility to get involved in crisis |
| POSITIVES OF NEW DEAL | Programs are necessary to help the country get through the Great Depression |
| POSITIVES OF NEW DEAL | Government has responsibility to use its power to help all of its citizens |
| POSITIVES OF NEW DEAL | Eased the suffering of the Great Depression |
| CRITICISM OF NEW DEAL | Government intruding on people's lives |
| CRITICISM OF NEW DEAL | Created a New National Debt |
| CRITICISM OF NEW DEAL | Best approach to improve our economy is to make sure we have policies that favor businesses and the wealthy |
| CRITICISM OF NEW DEAL | Spent a lot of money and did not achieve it's major goal. |
| FDR COURT-PACKING SCHEME | Tried to add more court justices |
| WHY DID FDR TRY COURT-PACKING SCHEME | So they would stop removing all the parts of his new deal |
| RESULT OF COURT-PACKING SCHEME | Did not work but they did stop removing the parts of his new deal. |
| NUMBER OF TIMES FDR RAN FOR PRESIDENT | Four times |
| NUMBER OF TIMES FDR WON FOR PRESIDENT | Four Times |
| WAS IT LEGAL FOR HIM TO RUN FOUR TIMES | Back then it was legal, but not it is not |
| TWENTY SECOND AMENDMENT | Says that a President can only serve for two terms |
Created by:
desilva13
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