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Cards In This Set
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Why did the bull market of the 1920's occur?
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1. Stocks were bought based on speculation.
2. Margin accounts allowed investors to buy with borrowed money.
3. Corporations put capital into stocks rather than research.
4. The climate of opinion indicated everyone was meant to get rich.
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What was the worst day of the stock market crash of 1929?
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October 29, 1929 is often called Black Tuesday.
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What were the weaknesses in the economy that contributed to the Great Depression?
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1. Unequal distribution of income.
2. Near depression in agriculture in the 1920's.
3. Failure of companies to pay wages commensurate with productivity.
4. Rise in productivity had encouraged over- production in many industries.
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What does the table show regarding the distribution of family income in percentages from 1929 to 1944?
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The four poorer fifths all gained while the top fifth lost.
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What feelings did unemployment in the United States in the early 1930's create?
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Created feelings of guilt and shame.
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What was Hoover's response to the Depression?
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Hoover's response was to have the government help businesses to help themselves.
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What did policies under Hoover show?
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Private charities do not have the resources to meet massive social problems.
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To what did social unrest under the Hoover Administration lead?
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1. The Bonus Army's march on Washington.
2. Farmers' holiday association.
3. Labor demonstration at Ford's River Rouge Factory.
4. The deaths of four demonstrators in Detroit.
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What did Franklin D. Roosevelt accuse Hoover of during the campaign of 1932?
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Reckless spending.
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What does the map of the Election of 1932 show in regard to the states that Republican, Herbert Hoover carried?
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Republican, Herbert Hoover, carried the New England states.
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In what did Franklin D. Roosevelt's "brains trust" believe?
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They believed in government- business cooperation.
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What was Franklin D. Roosevelt's first act as president?
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A "bank holiday" temporarily closing all banks.
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What New Deal programs were established during the "Hundred Days"?
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The AAA (Agricultural Adjustment Administration), TVA (Tennessee Valley Authority), FERA (Federal Emergency Relief Administration), and CCC (Civilian Conservation Corps).
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What did the AAA of the "Hundred Days" do?
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1. Tried to raise farmers' purchasing power.
2. Raised prices by cutting production.
3. Displaced sharecroppers by reducing production.
4. Established parity prices for basic farm commodities.
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What did the NIRA spark?
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The NIRA sparked union organization.
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