Studied by 3 people
price supports
prices that the government sets and maintains by buying surplus goods
credit
a record of how a person handles money and debt
Dow Jones Industrial Average
averages the prices of 30 of the most traded stocks
speculation
buying cheap large quantities of land and waiting for the price to rise before selling
buying on the margin
buying stocks with little money and the promise of paying the balance later
black tuesday
when the stock market crashed
hawley-smoot tariff act
protected American farmers and manufacturers from foreign competition
banking system failures and unemployment rates increased
what were some problems that hinted towards economic crisis?
you can lose more money than you invested
what was the problem with buying stocks on speculation and margin?
the savings of millions of americans was wiped out
what happened when banks failed after the crash?
declining in outputs, severe unemployment, and deflation
what were the world wide effects from the great depression?
farmers debt, consumer debt, more goods than buyers, and decline in over sea trade
what were the main causes of the depression?
shantytowns
little towns consisting of shacks
soup kitchen
place where food is provided to the needy at little or no charge
dust bowl
the drought that affected south-central US causing dust storms
direct relief
cash payments or food provided by the government to the poor
federal home loan act
Lowered mortgage rates for homeowners and allowed farmers to repay their farm loans
reconstruction finance corporation
Agency established to provide emergency relief to large businesses and banks.
bonus army
WWI veterans demanding their bonus pay
american individualism
what was hoover's philosophy on the depression?
it protected cities and farms, supplied cheap electricity, and provided jobs
how did building boulder dam help people/economy during the depression?
FDR
32nd president
new deal
a series of programs and projects instituted during the Great Depression by FDR to restore america
glass-steagall act
established the Federal Deposit Insurance Corporation and included banking reforms
federal sercurities act
required corporations to complete information on all stock offerings
agricultural adjustment act
offered farmers money in exchange for limiting their production of certain crops
civilian conservation corps
provided jobs for unemployed young men
deficit spending
the government spending more than it takes in
huey long
Political leader from Louisiana who criticized the New Deal
the attempt to rebuild the economy
what was the period known as the hundred days?
emergency banking relief act
set up a system where banks would be reorganized or reopened
to protect investors and maintain a fair market
what was the purpose of the securities and exchange commission?
to provide navigation, flood control, electricity and economic development to the tennessee valley
what was the tennessee valley authority?
emergency relief and construction act
what two programs come of the NIRA
the home owners loan corporation and federal housing administration
what two programs helped homeowners?
it promoted him to find methods to change the way the court functions
what was FDR's response to the supreme court's reaction to the new deal
works progress administration
an agency that hired jobless people to build public buildings and parks
national youth administration
a new deal agency that provided work and education for americans between ages 16-25
wagner act
gave employees the right to join or form unions
social security
pays retired workers 65 or older
the farmers security administration and the soil conservation service
what programs were meant to help the farmers as part of the second new deal?
works progress administration and civilian conservation corps
what programs were meant help urban laborers?
old age, unemployment compensation, and public assistance
what were three major parts of the social security program?
federal deposit insurance corporation
the government agency that insures customer deposits if a bank fails
national labor relations board
protected the rights of employees to join together to improve their wages and working conditions
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Flashcard (93)