VUS.10b,10c,10d
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| What was the Great Depression? | Bad economic times from 1929 to World War II
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| What were 3 causes of the Great Depression? | 1) Overspeculation in stocks,
2) Bank failures,
3) Hawley-Smoot Tariff
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| What is speculation? | Buying something at a low price in the hope of selling it later at a profit
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| What is the largest stock market in the U.S.? | New York Stock Exchange
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| What does it mean to buy stock on margin? | Buy stock on credit
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| What started the Great Depression? | The stock market crash
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| What is America's central bank? | The Federal Reserve
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| What is inflation? | Prices increase and the dollar buys less
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| What does the Federal Reserve do to stop inflation? | Raises interest rates
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| What does the Federal Reserve do if the economy slows down? | Lowers interest rates
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| What is a protective tariff? | Tax on imports that is so high Americans cannot afford to buy foreign goods
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| What was the Hawley-Smoot Tariff? | 1) Protective tariff,
2) Highest tariff rates in American history
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| Who was president when the Great Depression began? | Herbert Hoover
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| What was Hoover's political party? | Republican
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| What president started the New Deal? | Franklin D. Roosevelt
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| What party was FDR? | Democrat
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| What was the New Deal? | FDR's program to end the Great Depression
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| What were "Fireside Chats"? | FDR's radio talks
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| What were the 3 R's of the New Deal? | Relief, Recovery, Reform
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| What did WPA do? | Paid people to work on public works projects
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| Give examples of public works projects. | Roads, schools, bridges, parks, dam, libraries
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| What did AAA do? | Paid farmers not to raise crops and livestock in order to increase farm prices
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| What does FDIC? | Insures bank deposits
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| What did the Social Security Act do? | 1) Unemployment insurance,
2) Old-age pensions
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| What ended the Great Depression? | World War II
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| What 3 rights did workers gain during the New Deal? | 1) Right to form a union,
2) Right to strike,
3) Minimum wage
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