The Great Depression and the New Deal What were 3 causes of the Great Depression? Overspeculation in stocks Collapse of the banking system Hawley-Smoot.

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Great Depression & New Deal

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Presentation transcript:

The Great Depression and the New Deal

What were 3 causes of the Great Depression? Overspeculation in stocks Collapse of the banking system Hawley-Smoot Tariff

What event triggered the Great Depression? The Stock Market Crash

What is reform? Change for the Better

What is speculation? Buying something at a low price in the hope of selling it later at a profit

What functions as the central bank of the United States? The Federal Reserve System

What controls the nation’s money supply? The Federal Reserve

What is inflation? When prices increase and the dollar buys less

What does the Federal Reserve do to stop inflation? Raise interest rates

What acts as a banker’s bank? The Federal Reserve

The Federal Reserve’s power to set ______ _____ enables it to control the nation’s money supply. Interest Rates

What was the unemployment rate in 1932? 25%

What was the Great Depression? A period of economic hardship between 1929 and World War II

What were 4 effects of the Great Depression? Unemployment and homelessness increased Bank Closings -- the collapse of the nation’s financial system Political Unrest Farm Foreclosures

What does the Federal Reserve do if it believes the economy is overheating and causing inflation? Raises interest rates

What does the Federal Reserve do if it believes the economy is slowing down? Lowers interest rates

What is the largest stock market in the United States? The New York Stock Exchange

What does it mean to buy stock on margin? Buy stock on credit

What is a protective tariff? A tax on imports that is so high that Americans cannot afford to buy foreign goods

What was the Hawley- Smoot Tariff? Protective Tariff the Highest Tariff Rates in History

Who was president when the Great Depression began? Herbert Hoover

What was Herbert Hoover’s political party? Republican

What president started the New Deal? Franklin Roosevelt

What was FDR’s political party? Democrat

What was FDR’s program to end the Great Depression? The New Deal

Who said, “The only thing we have to fear is fear itself?” Franklin D. Roosevelt

What were the 3 R’s of the New Deal? Relief Recovery Reform

What was the purpose of the New Deal Relief programs? Ease the Suffering of the Unemployed

What was the purpose of New Deal Recovery programs? Help Business Recover

What was the purpose of New Deal Reform programs? Bring about Change for the Better in U.S. society

Identify FDIC. Today insures bank deposits up to $100,000

For what does FDIC stand? Federal Deposit Insurance Corporation

For what did AAA stand? Agricultural Adjustment Administration

What did AAA do? Limited farm production to raise livestock and crop prices

What was WPA? Federal gov’t. program that paid people to work on public works projects

What are public works projects? Gov’t. programs that build roads, schools bridges, post offices, parks….

For what did the Social Security Act provide? Unemployment Insurance Old-Age Pensions

What 3 rights did Organized Labor gain during the New Deal? Right to form a Union Right to Strike Minimum Wage

When did the Great Depression end? World War II

Since the New Deal, who do Americans hold responsible for bringing prosperity to the U.S. economy? The federal gov’t., especially the President