The Great Depression & FDR

In 1929 the top 5 percent of all American households earned 30 percent of the nation’s income, which is

• 
  an uneven distribution of income.

• a bull market.

• supply-side economics.

• 
  a recession.

The stock market took its steepest dive on October 29, 1929, the day now known as

• 
  Red Thursday

• Stormy Monday

• Black Tuesday

• Bloody Sunday

The Dust Bowl occurred because plowed land was left uncultivated and there was a terrible

• 
  insect infestation

• 
  winter

• 
  drought

• 
  increase of wild grasses.

During the Great Depression, when a bank collapsed,

• the government stepped in to run the bank.

• 
  the government covered the bank’s debts.

• 
  the government repaid deposits on insured accounts only.

• depositors lost their savings.

Thousands of World War I veterans came to Washington in 1932 to lobby Congress to

• 
  enact a bonus for war veterans and their families.

• pass legislation giving veterans their promised bonus early.

• 
  provide public works jobs for unemployed veterans.

• 
  provide military jobs for unemployed veterans.

Most economists agree that a key cause of the Depression was

• overconsumption.

• inflation.

• overproduction.

• 
  deflation.

In search of work or a better life during the Depression, many unemployed people

• destroyed “Hoovervilles.”

• became homeless.

• became farmers.

• 
  rode the rails and became hoboes.

During the Great Depression, many farmers turned their farms over to

• 
  court officers.

• 
  banks that held mortgages.

• 
  fire.

• 
  Non paying workers

The practice of making high-risk investments in hopes of a huge profit is called

• Quota

• Welfare Capitalism

• Speculation

• Business cycle

Shanty towns built by the homeless during the Great Depression were called

• Ghettos

• Projects

• Suburbs

• Hoovervilles