Unit 7 Vocab

To what position was FDR appointed in the Wilson administration?

Assistant Secretary of the Navy

What is buying on margin, insofar as stocks and bonds are concerned, and why is this very strictly controlled today by the government?

Buying on margin is the down payment made to the broker for the stocks, bonds, assets that the investor makes. The Federal Reserve Board exists to supervise and regulate member banks to help serve the public. This is very strictly controlled now because of the huge market crash that banks took advantage of their customers using their money to invest.

Which of the following programs, one of Roosevelt's favorites and also the American public, paid young men to do conservation work in work camps run by the army?

CCC

Franklin received his law degree from what prestigious university?

Columbia

What was the primary mechanism the Agricultural Adjustment Act of May 1933 used to increase farmers' profits?

Controlling production via subsidies and other methods to increase prices

Shack towns, were where out of work and homeless people, built make-shift shelters for themselves. These places became know a

Hoovervilles

What is THE most important lesson people today can learn from what happened during the Great Depression? Compose a paragraph of at least five sentences.

I think the most important lesson that people can learn from the Great Depression is to have a backup plan. Most people didn't think that this would ever happen. I think that we all need to learn to budget, and make sure if something like this happens again we are prepared and ready to take the punch. As you showed us with the sample budgeting a lot of us are not aware of what we can discard from our daily lives until we have to experience the hardship. People today need to think about the present day for sure but also need to think about the future and consider what could happen.

What effect do many biographers and historians believe that paralysis had on Roosevelt?

It increased his empathy for the day-to-day suffering of the majority of Americans

Explain one way in which each of the following groups were responsible for the conditions that led to the Great Depression: political and government leaders; business leaders; and common citizens.

Political and Government Leaders- Government and Political Leaders failed to encourage businesses and citizens to act responsible. Also, they failed to regulate speculation of the stock market. Business Leaders- Business leaders continuously held workers' wages too low. Also, they encouraged the stock market speculation. Common Citizens - Common citizens used credit to live beyond what they were suppose to, and overworked farmland and gre more crops ignoring the decreased demand.

Compare President Hoover's response to the stock market crash of 1929 to his response to the Great Depression in the early 1930's

President Hoover kind of went into a shocked state of mind during the stock market crash. He took a very cautious approach to the incident in 1929. Finally when in became the 1930s President Hoover decided to take action. Now, it may not have done the extensive growth that President FDR provided, but Hoover did start to taking an active approach to the situation in the 1930s.

List, explain and categorize what you think were the best and/or most successful New Deal Programs in the areas of relief, recovery and reform. Also, in your opinion, what New Deal program that still exists today has had the most impact on

Relief- AAA- Agricultural Adjustment Act was one of the relief acts affecting the farmers who were suffering from the decrease in prices. This act was very thoughtful but took it a little too far into the government. Recovery- HOLC- Home Owner's Loan Corporation- helped refinance their home mortgages that are non-farm mortgage holders. This helped people recover from their financial burdens. Reform- Obviously, I think the best New Deal program for reform was the Social Security Administration creation. Thinking so far in the future and making it a recycled process helps the US stay together.

Which left-wing opponent of Roosevelt created the "Share our Wealth" movement, which called for all large fortunes to be liquidated, and for all citizens to receive a yearly income of $2,500?

Senator Huey Long

What kinds of skills, education and occupations did Franklin Roosevelt bring with him to the United States presidency that would help ensure that he would be a good president? A well written paragraph should suffice. NOTE: Make sure your answer deals with the three topics listed; skills, education and occupations.

Skills- FDR had personal charm to affect millions of people to help ensure he would be a good president. Also, with all the fantastic ideas presented with self-confidence and strong character his audience was sure that he was the one. He also has qualities that he shows a responsibility for others making him a great candidate for president. Education- He had an undergraduate degree from Harvard and two years of law school at Columbia. Obviously, these two schools speak for themselves but for FDR to attend just added to his excellent resume. Occupations- Lawyer, New York State Senator, Assistant Secretary of Navy, and Governor of New York back up his credibility as a well experience person for the position as president.

Franklin Roosevelt's time at the famous Groton boarding school revealed that Franklin was more interested in popularity and fun than his studies.

True

Roosevelt had an unsuccessful bid in his attempt to win the vice presidency as James M. Cox's running mate in 1920.

True

The "bank runs" that became commonplace as the Great Depression widened, were eased by President Roosevelt's mandatory "bank holidays".

True

The Stock Market Crash of 1929 was the main cause of the Great Depression.

True

The economic depression of the 1930's was the worst ever in the United States and has yet to be rivaled even today.

True

The main flaw in the method of purchasing stocks called "buying on margin" was that it relied on a constant and assured rise in value of all stocks for it to work.

True

Within a few years, the Hawley-Smoot Tariff Act led to

a dramatic drop in trade with other nations

The New Deal almost completely ended in 1938 because of Roosevelt's preoccupation with

a foreign policy

Hoover's measures to deal with the Depression included support for three of the following. Which is the exception?

a large-scale federal program of direct relief to the unemployed

Charles Ponzi believed that the best way for people to get rich in the stock market was to

buy stocks with borrowed money because the stocks were consistently rising in price

The main idea behind the economic concept of "priming the pump" was to

continue the laizzez-faire policies of the 1920's

Franklin Delano Roosevelt ran for United States president how many times?

four

Buying on installment means

paying a small amount each week or month

The stock market crashes in September of 1929 prompted most people to

sell their stocks

When a person buys a stock he/she is

taking out a loan from the bank

What was not a cause of the Great Depression?

the growing number of homeless

President Hoover fought bills passed in Congress to make jobs for people. He felt who should help the needy?

the states

What position did Herbert Hoover not hold prior to being elected president?

vice president under Harding

The Stock Market Crash in October of 1929

was a cause of the Great Depression

In the 1920's the price of the vast majority of stocks did what?

went up steadily