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The Great DepressionThe Great Depression

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Effects Board 1The Road to The Road to

CollapseCollapseEconomics Economics

101101Hoover’s Hoover’s

ManeuversManeuversLet’s Make a DealLet’s Make a DealFranklin’s Franklin’s

Fixer-UppersFixer-Uppers

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The Road to The Road to CollapseCollapse

Economics Economics 101101

Hoover’s Hoover’s ManeuversManeuvers

Let’s Make a Let’s Make a DealDeal

Real Question Board 2Franklin’s Franklin’s

Fixer-UppersFixer-Uppers

This protectionist trade policy was

originally intended to help American

business, but ended up hurting trade in

the long run.

Tariffs (Smoot-Hawley)

This type of prosperity dominated

through the 1920s in which people

spent money they didn’t have.

Superficial

This term describes the risky buying of stocks, serving to drive prices up to

make a quick profit.

Overspeculation

It was on this date that the Stock Market crashed.

10/29/29, or “Black Tuesday”

•When people lost faith in financial institutions, they began pulling their deposits out of banks. This, in turn, caused a bank _____, which forced many banks to have to close their doors.

Run

This is the term to describe a steady increase in prices.

Inflation

With this change in price of goods may sound good at first, it eventually will lead to businesses downsizing

and may increase unemployment due to lay

offs.

deflation

CPI stands for this, or the average prices of goods in the

market.

Consumer Price Index

This economic indicator describes the total amount of goods and services

that a country produces.

Gross Domestic Product

The Federal Reserve serves as the U.S. banking system and

functions to influence our spending activity by setting the rate at which banks can borrow

and the minimum amount of deposits they must hold. These are called the ____ and ____.

Discount Rate; Reserve Minimum

Hoover was a member of this political party, whose philosophy was based on the policy of “Laissez Faire”

Republican

When the Great Depression hit, Hoover encouraged people to maintain confidence in the economy because all economies naturally go through these, or periods of booms and busts.

Cycles

Hoover refused to provide direct relief

because he believed in _________ ____________, or

the idea that man should work independently to

become successful rather than relying on his

government to relieve him.

Rugged Individualism

The Reconstruction Finance Corporation was created with the intention to provide relief to large banks and corporations, figuring that the money would ______ _____ to the employees, eventually providing indirect relief.

Trickle Down

The Bonus Army appeared in

Washington to support this bill, which

would’ve granted veterans money in 1933 rather than making them wait

until 1945.

Patman Bill

During the Lame Duck period, FDR brainstormed with his close advisors,

nicknamed the:

Brain Trust

Within his first few days of office, FDR declared this in order to prevent further withdrawals from and investigate the policies of banks.

National Bank Holiday

This amendment repealed prohibition in order to raise revenue from the tax on alcohol.

21st

This act created the FDIC to insure

deposits up to $5,000. Today, the number stands at

$250,000.

Glass-Steagall

This body negated some of the work that FDR completed during his first “New Deal” by

striking down the NIRA and the AAA.

Supreme Court

•This was the name of FDR’s second wave of legislative action in order to replace the laws that were overturned due to unconstitutionality.

The Second New Deal

FDR created work programs to put citizens to work. Three examples of these federally-funded programs were:

CCC, WPA, PWA

•This act replaced the NIRA, creating a board that faced up against the Laughlin

Steel Corps.

National Labor

Relations Act

This act provided electricity to rural areas.

Rural Rural Electrification Electrification

ActAct

This woman is known for her

contribution to the Social Security

act, which created old-age relief

funds and unemployment

wages.

Frances Perkins

Final Jeopardy!!!!!!!!!!!!

•Name FDR’s three main goals for economic recovery and give an example of each.