Unit 9 test

Front

What does “Buying on margin” mean?

Back

Purchasing stock with borrowed Money, which must be repaid with interest.

Front

Why did the drop in stock prices in October 1929 ultimately lead the stock market to crash?

Back

Investors feared that they would fail to pay off loans, and sold stock.

Front

How did the stock market crash cause a business crisis?

Back

Businesses lost their savings in failed banks and had to close.

Front

What term means the up-and-down pattern of the economy?

Back

The business cycle

Front

Who did President Hoover believe should lead the relief effort during the Great Depression?

Back

Private individuals and institutions

Front

What was the Bonus Army?

Back

WW I veterans demand early payment of a promised bonus for the was

Front

How did Americans regain faith in the banks after President Roosevelt signed the Emergency Banking Relief Act into law?

Back

People thought they could trust banks with money

Front

What did Critics who thought the New Deal went too far claim?

Back

People believed the president had too much power

Front

What problems did President Roosevelt have with the Supreme Court?

Back

Declared New deal programs unconstitutional

Front

What created the Dust Bowl?

Back

Severe drought for 10 years.