Great Depression Review

The man who was born in Hyde Park, New York and served as governor of New York State. In 1932, the Democratic Party selected him to run as their Presidential candidate. He won the election in a landslide against the Republican incumbent. Who is he?

• Herbert Hoover

• Franklin D Roosevelt

• Theodore Roosevelt

• Calvin Coolidge

During which decade were the below statements made?

“brother can you spare a dime?”

“… the only thing we have to fear is fear itself…”

“If they come to take my farm, I'm going to fight”

“Those days you did everything to save a penny”

• 1920s

• 1930s

• 1940s

• 1950s

Which development was a RESULT of the other three?

• Decline of purchasing power

• Overexpansion of credit

• Start of the Great Depression

• Crash of the stock market

During the New Deal Era, government programs such as Social Security and unemployment insurance were efforts to

• Improve the economy

• Save family farms

• Change foreign policy

• Benefit big business

President Franklin D Roosevelt’s New Deal differed from policies of Presidents of the 1920s in that the New Deal

• Insisted on balancing the federal budget

• Returned the country to laissez faire economics

• Eliminated tariffs on nearly all imports

• Expanded the role of the government in the economy

The main purpose of the Social Security Act of 1935 was to

• Create jobs for unemployed

• Provide higher wages for workers

• Provide benefits for elderly Americans after retirement

• Increase the amount of money in circulation

President Franklin Delano Roosevelt reacted to the Great Depression by

• Increasing the role of the federal government in peoples' lives

• Adopting laissez-faire economic policies

• Invading Nazi-occupied France to boost the economy

• Organizing a conference of Republican governors

A major purpose for the creation of the Federal Deposit Insurance Corporation (FDIC) during the 1930s was to

• Strengthen consumer confidence in the banking system

• Limit government borrowing

• Break up banking monopolies

• Implement monetary policies

During the New Deal, the Federal Government attempted to improve conditions for farmers by

• Ending the practice sharecropping

• Supporting the formation of farmworker unions

• Raising tariffs on farm imports

• Paying farmers to take land out of production

Which MOST often happens during a “depression”?

• More people borrow money to start a new business

• It becomes easier to find a new job

• The government discourages people from buying clothes

• People buy fewer goods