What were "Fireside Chats?"

Radio broadcasts by President Roosevelt

Why did banks give loans for luxury items?

The strong economy of the 1920's made them think it was a good idea

What does it mean to "buy on margin?"

To take out a loan from the bank to buy stocks.

Less $$$ in circulation, causing prices to DROP

What was the main difference between Black Tuesday and Black Thursday?

The stock market actually crashed on Black Tuesday

When people panicked and withdrew all of their money

Why did people want to invest in the stock market?

To make money off of their existing money.

What was meant by "Reform?"

Regulate banks, abolish child labor, conserve farm land.

What was meant by "Relief?"

Provide jobs, and protect farmers.

What was a negative effect of US wealth doubling in the 1920's?

Unemployment reached a high of 35%

What did many Americans do on Black Thursday

Sold an insane amount of stock market shares

What was meant by "Recovery?"

Get the economy functioning at a healthy rate again.

One reason the farming industry struggled after WW1 was....

Many took out big loans to pay for machinery

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Unit 7 Review

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Questions 17

Answers

1
What were "Fireside Chats?"
Heated arguments between members of Congress
Radio broadcasts by President Roosevelt
A new dating trend
So politicians could stay warm during the winter
2
Why did banks give loans for luxury items?
The strong economy of the 1920's made them think it was a good idea
To make space in their vaults
So more people would put their money in the bank
They wanted to be able to play Xbox with all of their friends
3
What does it mean to "buy on margin?"
To only buy 1/2 of a stock if you didn't have money for 1 whole share
To buy luxury items at a discount and sell them for more.
To take out a loan from the bank to buy stocks.
To buy a delicious butter substitute.
4
What is deflation?
Less $$$ in circulation, causing prices to DROP
A description of people attitudes during the Great Depression
Time to get new tires
People lost confidence in the government
5
What are the three R's?
Retreat, Revise, React
Recovery, Relief, Reform
Round Rable Rizza
Rod Stewart, Dennis Rodman, Fishing Rods
6
What was the main difference between Black Tuesday and Black Thursday?
It was a sequel that wasn't as good as the original
There was no difference
The stock market actually crashed on Black Tuesday
They were on different days of the week
7
What was a bank run?
People went in droves to open credit cards
They put the building on a truck and brought it somewhere else
When people panicked and withdrew all of their money
A competition to see which bank was the fastest
8
What was a conservative criticism of the New Deal?
It was Totalitarianism
It was Socialism
It was the same as the Old Deal
It was Fascism
9
Why did people want to invest in the stock market?
They didn't want GameStop to close.
They literally had no idea, but did it because it sounded cool.
To show off to their neighbors.
To make money off of their existing money.
10
What was meant by "Reform?"
To fix a broken house
Send kids to work, and grow your own food
Regulate banks, abolish child labor, conserve farm land.
To shapeshift into your spirit animal
11
What was one effect of the economy leveling out?
The stock market reached new highs
Wages increased
Wages decreased
Wages stayed the same
12
What was meant by "Relief?"
Protect jobs and provide farmers
When you are glad something bad did NOT happen
Erase everybody's debt
Provide jobs, and protect farmers.
13
What was a negative effect of US wealth doubling in the 1920's?
Unemployment reached a high of 35%
Mansions were hard to build
Stores ran out of gold chains
People bought private islands and moved out of the US
14
New laws and government programs to counter the impact of Great Depression were called...
The Price is Right
The New Deal
The New Happiness project
The fabulous depression
15
What did many Americans do on Black Thursday
Sold an insane amount of stock market shares
Went to banks to protest not being able to withdraw their money
Realized that "Black Thursday" would be a cool band name
They looked for the sun all day, but it never came out
16
What was meant by "Recovery?"
Get the economy functioning at a healthy rate again.
The government gave out beds so Americans could sleep better
Drink Gatorade for electrolytes
The government gave out stimulus checks
17
One reason the farming industry struggled after WW1 was....
People didn't like vegetables very much
Many took out big loans to pay for machinery
They forgot how to farm while away from home
They couldn't produce food fast enough

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