1930s: Great Depression + New Deal - OnLevel

Front

President during the 1930s who was considered a failure because he couldn't fix the Great Depression.

Back

Herbert Hoover

Front

The president who promised the people a "New Deal" during the Great Depression.

Back

Franklin D. Roosevelt

Front

What role do banks have in the economy?

Back

They provide loans to people who need money and help people invest money in stocks.

Front

What role do private businesses have in the economy?

Back

They provide jobs for people and goods for consumers to buy.

Front

Which of the following is the government's role in the economy? Giving interest to people who put their money into savings accounts. , The main provider of loans to people who want to buy homes., Building roads, schools, hospitals, and other public spaces with tax money.

Back

Building roads, schools, hospitals, and other public spaces with tax money.

Front

Why does the government tax people?

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Taxes pay for government programs and services, such as schools and military.

Front

Explain the impact(s) of installment plans.

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people quickly accumulated massive amounts of debt and were unprepared to deal with the consequences of that

Front

Which of the following is NOT a cause of the Great Depression? Stock Market Crash, Credit, Advertisment, Prohibition

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Prohibition

Front

Which war had the US gotten out of before The Great Depression?

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World War I

Front

President Hoover's approach to dealing with the Depression was called "Laissez-Faire Economics", this means that he believed...

Back

the government should not interfere in the economy, it will eventually get better on its own, since it always has, relief should come from private institutions, not the federal government.