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The Great Depression
Social Studies
| Question | Answer |
|---|---|
| What year did the Great Depression start and end? | 1929 - 1942 |
| What was the Great Depression? | The economic decline during the 1930s that was the worst in the world’s history. |
| What did the 18th amendment do? | Prohibited the transport, consumption, and sale of alcohol Bootlegging . |
| What did the 21st amendment do? | It repealed the 18th amendment. |
| What were the three causes of the Great Depression? | Consumers could not buy goods as fast as industry produced them US gov't put high tariffs on imports the crash of 1929- stock market crashes on Tuesday October 29th, 1929 |
| What were 4 reasons for the crash? | stocks were overpriced over-speculation- hoping to get rich quick buying stocks on credit people panicked and kept selling stocks which made them drop even more |
| What were some conditions of the Great Depression? | Banks closed, high unemployment, People lost everything, people had to wait in long lines for food, Hoovervilles, Hoover Blankets, Inflation, and businesses being closed. |
| What was Franklin Delano Roosevelt’s New Deal? | His plan to pull the US out of the Great Depression. |
| What did people do to relive the Depression? | FDR called a special session of Congress called the 100 Days. |
| How did the FDR close the stock market? | They declared a bank holiday. |
| What are fireside chats? | Radio addresses to the public offering hopeful news about economy. |
| What's FDIC? | Federal Depository Insurance Corporation- insures money in banks up to $250,000. |
| Who urged Congress to pass new laws and programs called the New Deal? | The FDR. |
| What did the new deal do? | It increased the size and scope of the gov’t. |
| What did the new deal create? | It created millions of new jobs by paying for public works projects through the following acts and gov’t agencies. |
| Bear Market | A period of slow economic growth when the value of stocks goes down |
| Bull Market | A period of strong economic growth when the value of stocks goes up |
| Cost of Living | the average cost of life's basic necessities, such as food, clothing, and shelter |
| Depression | An economic crisis characterized by falling prices and high unemployment; a severe, long-lasting recession |
| Foreclosure | A bank action to take a house when the owner can't afford the mortgage payments |
| Interest | A monthly amount that a lender charges a borrower, typically calculated as a percentage of the loan |
| Invest | To put money into a company with the expectation of financial gain |
| Mortgage | A loan, typically from a bank, that a person uses to buy a home |
| Recession | A period of slow or no economic growth and rising unemployment |
| Stock | A share of ownership in a company |
| Stock Market | A place where stocks are bought and sold |
| Unemployment rate | The percentage of people in the country who cannot find jobs |
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