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. |