Great Depression Key Concepts: Causes, Effects, and Major Events

What day did the stock market crash, and what was the day nicknamed?

October 29, 1929, 'Black Tuesday'

What is a deficit?

When a government spends more money than it earns

How did Hoover feel about direct relief?

He opposed federal relief and thought charities and local governments could help

What is associationalism?

Workers and governments should not need federal assistance to solve their own problems

Who was the Congressman who proposed an early payout of WWI veterans' bonus?

Wright Pattman

Which two generals were put in charge of putting an end to the BEF Camps?

General Douglas MacArthur and George

What is the Reconstruction Finance Corporation?

Loaned money to banks, railroads, and large businesses

What did the Hawley-Smoot Tariff Act do?

Raised tariffs

What was Father Charles E. Coughlin notorious for?

For using the radio

Who lost their jobs at a higher rate during the Depression - men or women?

Men

What is the Federal Home Loan Bank Act?

Lowered mortgage rates

What did the Federal Reserve Board do that set America up poorly for the Depression?

Raised interest rates

What were the reasons why the Great Depression occurred?

Overproduction in industry and farming, uneven wealth distribution, stock market speculation and buying on margin, weak banking system, declining international trade, falling consumer spending

What did the Revenue Act do and why was it passed?

Raised taxes

What are the three causes of the Dust Bowl?

Overproduction, droughts, and bad soil

What was the average national unemployment rate in the United States during the Depression?

25%

Name the states impacted by the Dust Bowl.

Kansas, Texas, New Mexico, Oklahoma, Colorado

What were the social effects of the Great Depression?

Mass unemployment, husbands leaving their families, illnesses, decline in birth

Why did Hoover authorize the construction of the Boulder Dam?

To create more jobs

Who were the presidential nominees in 1932?

Hoover and Roosevelt

Why was the housing market's decline in the 1920s so significant?

Had a big impact on the economy

What was significant about the creation of the RFC?

First major attempt to help the economy

Identify the four major industries that were falling in productivity leading up to the stock market crash.

Housing, lumber, coal, railroads

What is an Okie?

Migrants from the Dust Bowl

What region of the United States was plagued by the Dust Bowl?

Great Plains

What did the Bonus marchers refer to themselves as?

BEF

Why are midterm elections significant to a president?

To help the president so he can fix things

What happened to Hoover during the midterm elections of 1930?

Lost control of housing

What are some of the effects the Great Depression had on children?

Teenagers left families to find work, did not have school, increased illnesses