What was a flaw of Reconstruction Finance Corporation (RFC), by President Hoover in 1932?

too cautious and did not meet demands of failing economy.

How did President Hoover initially respond to the stock market crash?

optimistic & downplaying the severity of situation

Purpose of series of conferences President Hoover conducted in 1930 in response to economy:

convince business leaders to keep workers & wages

What were "hunger marches"?

Comunnist protests demand taxes for rich to feed poor

What are "public works"?

government-funded building projects

What happened when Hoover ordered the removal of the Bonus Army?

Veterans were chased from the Capitol by 700 soldiers.

How did the government respond to the call for direct relief to families?

passed the Emergency Relief and Construction Act.

What was the Bonus Army?

15,000 veterans in Washington, DC, wanting early bonuses

What was the purpose of the National Credit Corporation (NCC)?

increase the amount of currency in circulation

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Ch.9 The Great Depression Begins, 1929–1932 Lesson 3: Hoover's Response to the Depression

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Questions 10

Answers

1
What was a flaw of Reconstruction Finance Corporation (RFC), by President Hoover in 1932?
did not regulate how businesses could spend the money.
failed to see 2nd stock crash that wiped out all progress.
too cautious and did not meet demands of failing economy.
spent too much & borrowed money from foreign entities.
2
How did President Hoover initially respond to the stock market crash?
shutting down stock market and setting plan for recovery
optimistic & downplaying the severity of situation
addressing Congress to seek relief for families
loans to farmers and families about to lose their homes
3
Purpose of series of conferences President Hoover conducted in 1930 in response to economy:
inform public about how gov was handling crisis
force companies to rehire workers they had laid off
discuss social improvement projects with Congress
convince business leaders to keep workers & wages
4
What were "hunger marches"?
Comunnist protests demand taxes for rich to feed poor
runs on banks by customers trying to recoup their losses
destruction of food by farmers to keep prices up
lines at soup kitchens and relief centers
5
Principle President Hoover originally clung to as solution to nation's economic troubles:
rugged individualism
modified socialism
social security
government intervention
6
What are "public works"?
loans to banks to prop them up during the crisis
government-funded building projects
acts of charity by private organizations
programs to get companies to start hiring
7
What happened when Hoover ordered the removal of the Bonus Army?
Veterans were chased from the Capitol by 700 soldiers.
General MacArthur joined army to express his solidarity.
Police ignored him and allowed the army to remain.
Bonus Army protested & attacked stores & businesses.
8
How did the government respond to the call for direct relief to families?
offered families federal loans subsidized by gov.
passed the Emergency Relief and Construction Act.
told states to continue spending their own money.
created social security and welfare.
9
What was the Bonus Army?
shantytown residents who helped each other find gov jobs
college students with options on recovery to president
15,000 veterans in Washington, DC, wanting early bonuses
communist & socialist agitators who attacked White House
10
What was the purpose of the National Credit Corporation (NCC)?
extend credit to people in order to secure them homes
increase the amount of currency in circulation
lend money to companies to stimulate hiring
begin borrowing money to spend in a deficit

Ch.9 The Great Depression Begins, 1929–1932 Lesson 3: Hoover's Response to the Depression Flashcards | StudBud

Ch.9 The Great Depression Begins, 1929–1932 Lesson 3: Hoover's Response to the Depression

10 termsStudBud Administration110 plays

9.3

Flashcards10 cardsFPractice quizPHost liveL

Questions 10

Answers

1
What was a flaw of Reconstruction Finance Corporation (RFC), by President Hoover in 1932?
did not regulate how businesses could spend the money.
failed to see 2nd stock crash that wiped out all progress.
too cautious and did not meet demands of failing economy.
spent too much & borrowed money from foreign entities.
2
How did President Hoover initially respond to the stock market crash?
shutting down stock market and setting plan for recovery
optimistic & downplaying the severity of situation
addressing Congress to seek relief for families
loans to farmers and families about to lose their homes
3
Purpose of series of conferences President Hoover conducted in 1930 in response to economy:
inform public about how gov was handling crisis
force companies to rehire workers they had laid off
discuss social improvement projects with Congress
convince business leaders to keep workers & wages
4
What were "hunger marches"?
Comunnist protests demand taxes for rich to feed poor
runs on banks by customers trying to recoup their losses
destruction of food by farmers to keep prices up
lines at soup kitchens and relief centers
5
Principle President Hoover originally clung to as solution to nation's economic troubles:
rugged individualism
modified socialism
social security
government intervention
6
What are "public works"?
loans to banks to prop them up during the crisis
government-funded building projects
acts of charity by private organizations
programs to get companies to start hiring
7
What happened when Hoover ordered the removal of the Bonus Army?
Veterans were chased from the Capitol by 700 soldiers.
General MacArthur joined army to express his solidarity.
Police ignored him and allowed the army to remain.
Bonus Army protested & attacked stores & businesses.
8
How did the government respond to the call for direct relief to families?
offered families federal loans subsidized by gov.
passed the Emergency Relief and Construction Act.
told states to continue spending their own money.
created social security and welfare.
9
What was the Bonus Army?
shantytown residents who helped each other find gov jobs
college students with options on recovery to president
15,000 veterans in Washington, DC, wanting early bonuses
communist & socialist agitators who attacked White House
10
What was the purpose of the National Credit Corporation (NCC)?
extend credit to people in order to secure them homes
increase the amount of currency in circulation
lend money to companies to stimulate hiring
begin borrowing money to spend in a deficit