us history exam 3

What was the highest unemployment rate during the Great Depression?

25%

What percentage of bank deposits were lost during the Great Depression?

20%

What percentage of stock market value was lost during the Great Depression?

80-90%

What did the New Deal aim to help with?

Relief, recovery, and reform

What happened to GDP between 1921 and 1923?

Dropped between 1/3 and 1/2

What was the Smoot-Hawley Tariff Act?

A protectionist measure that worsened the economy

Who were the key figures associated with the Monetarist theory of the Great Depression?

Milton Friedman and Anna Jacobson Schwartz

What was the Keynesian theory regarding the Great Depression?

It was caused by an imbalance of production to demand, and could be cured by increasing government spending

Who is associated with the Austrian school of economic thought?

Friedrich Hayek and Ludwig von Mises

What is the Marxist view on the Great Depression?

The government owns the means of production

What is the Emergence theory?

The philosophical idea that the whole is greater than the sum of its parts

What were the four tenets of the New Deal?

1. Not socialist or racist, became welfare capitalism; 2. Increase consumption to balance with production; 3. Balance big business, big labor, and big government; 4. Redistribute concentration of wealth

What was the purpose of the CCC?

Civilian Conservation Corps, aimed at providing jobs

What was Kristallnacht?

A night of violence against Jews on November 9, 1938

What does appeasement refer to in the context of WWII?

The policy of making concessions to avoid conflict

What was the significance of the joint invasion of Poland?

It marked the beginning of WWII

Who was the dictator of the Soviet Union during WWII?

Joseph Stalin

What was the Blitzkrieg tactic?

A fast and intense military campaign intended to bring about a swift victory

What was the purpose of Japanese internment during WWII?

To intern individuals from hostile countries, primarily Japanese Americans

What was Operation Overlord?

The code name for D-Day

Who was Jay Robert Oppenheimer?

The scientific head of the Manhattan Project

What was the Iron Curtain speech about?

It addressed the responsibility of Americans in the post-war world