The Great Depression Quiz: Unit 5

The Great Depression

A period in time where the economy plummeted and unemployment skyrocketed

Overproduction of crops

Low prices for crops, so farmers couldn't feed their families or pay bills

Foreclosure

Bank repossesses the farm

Buying on margin

Stock speculation - buying and selling short-term hoping to make profit

Stock market crash

Result of excessive buying on margin

Excessive credit

Buy now, pay later leading to high debt

Under consumption

Low wages and raising prices

Bank runs

When people rush to withdraw money from the bank

Dust Bowl

When over farming and drought dried up soil

Okies

Migrants from The Great Plains leaving farms because of the Dust Bowl

Bonus Army

World War I veterans who were promised cash and marched to DC

Hooverville

Shanty towns that had emerged outside cities for evicted and homeless people

Hawley-Smoot Tariff

Tariffs on imports meant to encourage buying American goods

New Deal

FDR's program of relief recovery and reform programs

Fireside chat

FDR's use of radio to communicate to public

Federal Deposit Insurance Corporation (FDIC)

Monitored banks and provided insurance of up to $5,000 if a bank failed

Social Security Administration (SSA)

Provided money and pensions to the elderly or those with disabilities

Civilian Conservation Corp (CCC)

Provided Americans to plant trees, clean trails, and care for national parks

The New Deal

Did not end the Great Depression