• Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off

Card Range To Study



Play button


Play button




Click to flip

Use LEFT and RIGHT arrow keys to navigate between flashcards;

Use UP and DOWN arrow keys to flip the card;

H to show hint;

A reads text to speech;

13 Cards in this Set

  • Front
  • Back
What economic factors and conditions made the American economy appear prosperous in the 1920's?
GNP- total value of all goods and services produced in a nation during a specific time period

Welfare Capitalism- various benefits for employees used for improving worker loyalty

Stock is ownership of a company which is sold in shares.
What were the underlying economic weaknesses in the 1920's?
unequal distribution of wealth- wealthy class 60% income increase & working class 8% income increase

buying on margin- buying stocks with loans from stockbrokers

installment credit- credit used to purchase stocks
What key events led to the stock market crash?
Thursday Oct. 24, 1929- investors started selling stock with few people willing to buy. At the end of the day, bankers joined together to buy stock to prevent further collapse.

Black Tuesday- investors dumped 16 mill shares of stock
What were the effects of the stock market crash?
Bank Runs- people went to withdraw their money from banks but their money wasnt there.

Foreclosures- ppl couldn't afford their lifestyles and had to give their houses over to the banks

Hoboes- ppl who hopped trains to look for work

Hoovervilles- settlements for the homeless or shanty towns full of shacks
What were the effects of the Dust Bowl?
Drought- period of below average rain fall, lasted for several years.

Dust Bowl- topsoil stripped from the ground and carried hundreds of miles. Great Plains area hardest hit by drought.

John Steinbeck- wrote grapes of wrath which talked about the lives of people who couldn't live in the great plains anymore and had to move to seek jobs on farms and orchards called Okies.
What was Hoover's philosophy about the role of Government in the economy?
Rugged Individualism- small gov. big business with as little restrictions on business as possible.

Associative State- volunteer partnership between between business associations & gov.

Hoover Dam- one success of the associative state that helped create jobs.
What actions did Hoover take in response to the great depression?
Reconstruction Finance Corp- authorized up to 2 billion indirect gov loans to struggling banks & insurance companies

Smoot Hawley Tarrif- raised taxes on imporeted goods that hurt the economy more than it helped

Bonus Army March- vets wanted to be paid their bonus and armed soliders came and fought the unarmed vets.
What did president Roosevelt believe was the proper role of government in the lives of American Citizens?
New Deal- relief, recovery, reform

Public Works- one of the "reliefs" of the New Deal that provided jobs funded by the government

Fireside Chats- using the radio to get his messages across

John Maynard Keymes-British economist who explained how deficit spending could stimulate the economy
What immediate steps did FDR take in his first term to put the banking system on sounder footing?
First Hundred Days- FDR pushed congress to put in place many parts on the New Deal

Called for a "bank holiday" and put in the Emergency Banking Act which made banks report to the government

FDIC- established an insurance program for deposits in many banks.
What did FDR mean by relief, recovery, and reform?
CCC- jobs on conservation projects to young men whose families needed relief

TVA- transform an entire region of the country by building dams

AAA- encouraged farmers to cut production in return for a subsidy
What were the complaints about the New Deal from critics during Roosevelt's first term in office?
Conservaties- attecked the New Deal because it wasnt traditional american ideas.

Huey P. Long- radical critic of FDR who wanted a "Share the Wealth" program, said his new deal was too kind to banks and businesses

Father Charles Coughlin- catholic radio priest who first criticized then supported the new deal.
What were the Major elements of the Second Hundred Days?
Second New Deal- courts found parts of the first deal unconstitutional so they added the second one which had more relief programs

Works Progress Administration- provided public works jobs on a wide range of projects

Social Security Act- provided pensions for older, retired people
How did the role of women and minorities change during the New Deal?
Frances Perkins- Sectary of labor and first woman to ever serve in the cabinet

Black Cabinet- unofficial african american cabinet who served as FDR's advisors

Mary McLeod Bethume- led the black cabinet and was the director of negro affairs.