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Clep 1930s 2
Clep 1930s Depression 2
| Question | Answer |
|---|---|
| The Great Depression started with the ___ during President Hoover's term. | stock market crash |
| President Hoover's term began in 1929, and within months of his election, the stock market crashed, marking the beginning of the ___. | Great Depression |
| In the 1920s, stocks could be purchased on credit like practically everything else. The practice of buying stocks on credit was called ___. | buying on margin |
| "buying on margin was when millions of investors engaged in speculation in the stock market by buying on margin. When the stock market crashed in Oct. 1929, not only did investors lose money, but many of them were suddenly deep ____. | debt |
| ____ is the practice of investing in risky stock on the chance of quick or considerable profit. | Speculation |
| Rampant speculation combined with many of the stocks being bought on margin was why the stock market crash of October___affected investors so terribly. | 1929 |
| October 24, 1929, was known as Black Thursday because on that day the New York Stock Exchange crashed, heralding the end of the "_____" and the beginning of the Great Depression. | Roaring Twenties |
| The total value of a nation's goods and services is known as the _____. | GNP (Gross National Product) |
| The GNP (Gross National Product) is the total value of goods and services for a country. The United States' GNP fell by over ____ between 1929 and 1932 during the Great Depression. | 40 percent |
| Despite the economic crisis of the Depression, with about a quarter of the labor force unemployed, President Hoover did not believe in providing ____federal relief. | direct |
| Hoover's successor to the office, President Franklin Roosevelt, however, did believe in direct federal relief and ___ government involvement in helping the unemployed. | greater |
| President ___ did not believe in providing direct federal relief, and worked on establishing programs to help people get back to work. | Hoover |
| President Hoover believed in ___ people get back to work, not providing direct relief. During his administration, the President's Emergency Committee for Employment was formed in 1930. | helping |
| The President's Emergency Committee for Employment, renamed to the President's Organization for ___ Relief one year later, was established to coordinate the efforts of local welfare agencies. | Unemployment |
| The Reconstruction Finance Corporation, created by President Hoover's administration, was created to ___ money to financial, agricultural, and industrial institutions to facilitate economic activity. | lend |
| The RFC (Reconstruction Finance Corporation) was established in ____. | 1932 |
| The Emergency Relief and Construction Act provided loans to the ____ to use for relief of the unemployed. | states |
| The Emergency Relief and Construction Act provided loans to the states to use for unemployment relief. President Hoover was ___ to sign this bill as it went against his strong beliefs that the gov. should not get involved in direct relief efforts. | reluctant |
| Franklin Roosevelt enlisted the help of a group of economic and academic advisors known as the ____trust. | brain |
| The brain trust was a group of close advisors to FDR when he was ____ of New York as well as the first few years of his presidency. | governor |
| The first woman to hold a position in the Cabinet was Frances Perkins, Secretary of ___ during President Franklin Roosevelt's administration. | Labor |
| _____served as Secretary of Labor under President Franklin Roosevelt. | Frances Perkins |
| President Franklin Roosevelt spoke to the American people in ___ addresses known as fireside chats. | radio |
| FDR's radio addresses were popularly known as "____." In them Roosevelt would give heart-felt speeches explaining to the people what he was doing and giving them encouragement. | fireside chats |
| The Hundred Days refers to the beginning of Franklin Roosevelt's presidency, which was an incredibly ___ period of legislative and administrative action. | productive |
| The ___ was a time at the beginning of President Roosevelt's first term in office when the White House initiated a flurry of legislative activity to deal with the Depression. | Hundred Days |
| The first major step Franklin Roosevelt took as President was to declare a four-day ____, and craft the Emergency Banking Reform Act, which involved reorganizing and reopening only those banks strong enough to survive. | bank holiday |
| The Emergency Banking Reform Act was passed in an effort to restore faith in the banking system. At that time, around 11,000 out of the nation's 25,000 banks had failed, and many were failing daily as panicked depositors ____ all their savings. | withdrew |
| Under FDR, the Glass-Steagall Banking Act was passed to further restore faith in the banking system. This Act established the FDIC, which bank ___ deposits up to $5,000. | guaranteed |
| The Glass-Steagall Banking Act was part of Franklin Roosevelt's efforts to restore faith in the banking system. Right before this Act, he had passed the Emergency Banking Reform Act, which reorganized and reopened only the ___ strong enough to survive. | banks |
| President Franklin Roosevelt's Civilian Conservation Corps (CCC) provided work for _____ in national parks, road building, reforestation, and other related projects. | young men |
| In response to the Great Depression, President Hoover asked Congress to pass the Emergency Relief and ____ Act. | Construction |
| Under President Hoover's administration, the Emergency Relief and Construction Act was enacted to ___money to the states for the creation of jobs through public works projects. | loan |
| The Federal Emergency Relief Administration was created under FDR's administration. It ___ money to states for direct relief through public works projects. | provided |
| The Federal Emergency Relief Administration was an agency which was allocated hundreds of millions of dollars to help those in need through direct relief. It was the first step in the program of relief under President Franklin Roosevelt's _____. | New Deal |
| Dorothea Lange was an American photojournalist and is most remembered for her photos of the Great Depression. | photos |
| ___took photos of destitute men in bread lines, migrant workers, and migrant labor camps. Her photos came to be associated with what most American's think of when they contemplate the Great Depression. | Dorothea Lange |
| President Roosevelt asked Congress to set up they ______ Authority, which built dams and power plants. | Tennessee Valle |
| President Roosevelt believed that the creation of the Tennessee Valley Authority (TVA) would stimulate the economy of one of the ___ regions in the country. | poorest |
| The most important New Deal program which dealt with agriculture was the Agricultural Adjustment Act. It involved paying subsidies to farmers who ___ the production of their crops. | decreased |
| The ___was designed to tackle the root cause facing the agricultural crisis-overproduction. FDR hoped to reduce production, which would result in an increase in farm prices and farm income. The cost of this program was absorbed by a tax on the middlemen. | Agricultural Adjustment Act |
| The National ___ Recovery Act instituted fair trade codes in each industry, set a 40-hour work week, gave labor the guaranteed right to bargain collectively, and abolished child labor. | Industrial |
| The National Indust. Rec. Act was designed to help the recovery of industry in the US. The National Recovery Admin. was formed to encourage businesses to follow the fair trade codes. The Nat. Indust. Recovery Act was declared ____ by the Supreme Court. | unconstitutional |
| The Nat. Recovery Admin, was created to encourage businesses to follow the fair-trade codes instituted by the National Industrial Recovery Act. Companies that complied could place the NRA's Blue ___ symbol in their windows and on their product packaging. | Eagle |
| Companies that complied with the codes could put the NRA's Blue Eagle symbol in their windows or on their product packaging. This virtually __ everyone to comply--otherwise they were perceived as unpatriotic and lost customers. | forced |
| Under FDR's New Deal, the Public Works Administration was created. Congress gave the PWA ___ to use on various public works projects. | $3.3 billion |
| The idea behind the Public Works Administration was that it would provide jobs which would increase ____ buying power and stimulate industry. | consumer |
| In 1931, nine black men were charged and convicted of raping two white women on a train, these men were called the Scottsboro ___. Although there was very little evidence to convict the nine men, eight were sentenced to death. | Boys |
| The period after the midterm elections during Franklin Roosevelt's first term was called the ___ New Deal. | Second |
| This period was called the Second New Deal, and had a stronger focus on social reform. During this time, he faced challenges to the New Deal, from political rivals as well as the ____. | Supreme Court |
| Senator Huey Long developed an economic recovery plan he called Share the____ . | Wealth |
| His program was called Share the Wealth, and involved giving every family $5,000, and a $2,500 guaranteed annual income. Long's scheme called for the confiscation of all ____ that exceeded five million dollars. He was assassinated in 1935. | personal fortunes |
| The Supreme Court declared some major elements of FDR's New Deal unconstitutional. In Schechter Poultry Corporation v. United States the National Industrial Recovery Act was ____ . | struck down |
| In the case Schechter Poultry Corporation v. United States, also known as the "____" case, the Supreme Court struck down the National Industrial Recovery Act. | sick chicken |
| The Agricultural Adjustment Act was declared unconstitutional by the Supreme Court in 1936 because of the tax it imposed on ___. | middlemen |
| The AAA (Agricultural Adjustment Act) was ___ by enacting new laws to make up for the cost of the AAA without taxing the middlemen. | maintained |
| Under the New Deal, the federal government created agencies to provide ____ such as the Civilian Conservation Corps (CCC), the Public Works Administration (PWA), and the Works Progress Administration (WPA). | jobs |
| The Works Progress Admin. provided 8.5 million Am. with jobs over the 1st 8 years of its existence. These jobs involved building ___, parks, bridges,& airports. The Works Progress Administration was est. in 1935; beginning in 1939, WPA | highways |
| The it was called the legislation which has lasted the longest from the New Deal is the ____ , which created a pension fund for retired people over the age of 65. | Social Security Act |
| The Social Security Act was a response to one of the challenges to the New Deal by Frances Townsend, who came up with a plan to give $200 a ___ to retired people over 60. | month |
| The National Labor Relations Act, popularly known as the Wagner Act, restored the ___ protections which had been provided for by the NIRA (National Industrial Recovery Act). | worker |
| The NIRA was struck down in 1935 in Schechter Poultry Corporation v. United States by the Supreme Court. The Wagner Act restored the worker protections under the NIRA, which included the right for workers organize and to ____ bargain. | collectively |
| Q 33 The National Labor Relations Board was created in 1935 to ___ the Wagner Act. | enforce |
| The National Labor Relations Board was created to enforce the Wagner Act, a popular name for the National Labor Relations Act. It supervised union elections and investigated possible unfair labor practices by ___ . | employers |
| The Wagner Act resulted in increased ___ membership. A major force in organized labor was the Congress of Industrial Organization (CIO) which was formed in 1938, and grew into nearly 4 million workers within two years. | union |
| The Congress of Industrial Organization (CIO) was originally part of the AFL (American Federation of ___) as the Committee for Industrial Organization. | Labor |
| In 1938 the Congress of Industrial Organization (CIO) left the AFL and was reorganized as a competing group, and renamed the CIO. The CIO was particularly successful in unionizing the ____ and steel industries. | automobile |
| The Indian Reorganization Act of 1934 was a change in policy towards Native Americans, giving _____ backover their land and removing Native Americans from the state courts' jurisdiction. | tribal control |
| The Indian Reorganization Act also supported reviving old customs and ___ among the Native Americans. | traditions |
| During his second term, President Franklin Roosevelt attempted to do what is called _____ the Supreme Court. He wanted to increase the number of justices from 9 to 15, which would allow him to appoint six justices who favored his New Deal. | Packing |
| The Court Packing scheme was in response to the actions of the Supreme Court. At that time, the Supreme Court had already declared some of the key points of his ___ to be unconstitutional and were challenging other laws he had passed. | New Deal |
| The Fair Labor Standards Act was passed in 1938, and set a minimum wage and a 40-hour work week for businesses engaging in or affected by ___ commerce. | interstate |
| The Fair Labor Standards Act, also known as the Wages and ___ Act, was passed during FDR's administration. | Hours |
| Due to his attempt to "pack" the Supreme Court, and the Recession of 1937, FDR faced strong political ____ in Congress to getting many of his proposed New Deal bills passed that year. | opposition |
| A recession occurred in 1937 and lasted almost a year. Up to that point, unemployment had been high, but the economy had been steadily ___ since 1933. | improving |
| Franklin Roosevelt's efforts to fight the ___ depression were known as the New Deal. | economic |
| 'Controlled Growth' | Refers to efforts to balance growth and inflation through monetary policy. |
| Define the 'bubble-up' economic theory: | There is no such thing. |
| Efforts to balance growth and inflation through monetary policies is termed ____. | 'Controlled Growth' |
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wendyk44
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