Great Depression Review

THE STOCK MARKET CRASHED ON BLACK THURSDAY. THE DATE WAS OCTOBER 24, -

• 1919

• 1923

• 1929

• 1933

• 1945

WHY DID THE STOCK MARKET CRASH IN 1929?

• STOCK PRICES DROPPED BECAUSE FEW PEOPLE PURCHASED STOCKS

• OVER SPECULATION - PEOPLE BOUGHT UP HIGH PRICED STOCKS WITH BORROWED MONEY THEY COULD NOT REPAY.

A CAUSE OF THE GREAT DEPRESSION -

• HIGH TARIFFS THAT STRANGLED TRADE

• LOW TARIFFS THAT CAUSED THE U.S. MARKETS TO BE FLOODED WITH FOREIGN GOODS

AN UNDERLYING CAUSE OF THE GREAT DEPRESSION -

• HIGH WAGES THAT CAUSED THE DEMAND FOR GOODS TO GROW FASTER THAN THE SUPPLY OF GOODS.

• LOW WAGES THAT CAUSED GOODS THAT PEOPLE COULD NOT AFFORD TO STOCKPILE

Who was President in 1929 when the stock market crashed?

• Herbert Hoover

• Franklin D. Roosevelt

• Woodrow Wilson

• Theodore Roosevelt

The collapse of the banking system during the depression might have been prevented if-

• banks were closed down immediately before anyone could take money out.

• the Federal Reserve System had been able to make more money available to banks.

• the government interfered less in the economy.

Who was elected President in a 1932 landslide victory?

• Theodore Roosevelt

• FDR (Franklin Delano Roosevelt)

• Richard Nixon

How were Roosevelt's efforts to end the depression different from Hoovers?

• Roosevelt used government programs to help the nation recover.

• Roosevelt reduced government interference in the economy so the economy could work itself out.

To end the depression, Roosevelt proposed a package of laws and programs called the -

• New Deal

• Best Deal

• Square Deal

A New Deal law that today provides income to retired elderly workers is -

• the Unemployment Relief Act

• the Social Security Act

• the Works Progress Administration