Great Depression

Who were the U.S. presidents during the Great Depression?

• 1928–1932: Herbert Hoover

• 1933–1945: Franklin D. Roosevelt

There was (too much / not enough) credit during the 1920s.

Too much credit

Buying stock hoping it will rise in value so you can sell for profit is called what?

Speculation

Borrowing money to invest in the stock market is called buying stock on what?

Margin

When wealthy Americans stopped spending and converted money into gold, it was called what?

Hoarding

Overproduction on farms was originally met with what solution?

Destroying crops and livestock

The drought in the Midwest during the Great Depression was called what?

The Dust Bowl

Complete the quote from FDR’s first inaugural address: “You have nothing to fear but _____.”

Fear itself

The FDIC insured money in people’s bank accounts. (True or False)

True

When many people withdraw money from banks at the same time, it is called what?

A bank panic

“Never give up” was known as what Hoover belief?

Rugged Individualism

What were the veterans who marched on Washington in 1932 called?

The Bonus Army

What was FDR’s plan of programs to solve the Great Depression called?

The New Deal

What program did FDR create to monitor the stock market?

SEC (Securities and Exchange Commission)

What law made labor unions legal?

Wagner Act (National Labor Relations Act)

What reform provided direct relief to older Americans?

Social Security

The banks could have printed more money to help people during the Depression. (True or False)

False

What were FDR’s 3 R’s?

• Relief (money)

• Recovery (jobs)

• Reform (forever)

Short-term programs that helped people during the Great Depression were called what?

Relief programs

What was the CCC and who did it employ?

A recovery program that created jobs for Americans ages 18–25

All presidents after FDR are judged by their first what?

100 days

What were FDR’s radio addresses called?

Fireside chats

FDR believed in spending more money than the government had, creating what?

A large federal debt

Where did many farmers from the Dust Bowl migrate to?

California and Oregon

The TVA sold electricity to New Jersey. (True or False)

False (Tennessee Valley Authority)

The Great Depression ended when what event began?

World War II

Unemployment dropped to 5% under FDR. (True or False)

False