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41 Cards in this Set
- Front
- Back
bull market vs. bear market
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upward trend in stocks vs. downward trend in stocks
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margin buying
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buying stocks with borrowed money (only safe in a bull market, if crash- no money to pay back loans)
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stock speculation
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quick buying/selling of stocks, leads to increase in stock prices (inflation)
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Gross National Product (GNP)
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total value of all goods and services produced by a country in a given year
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Smoot Hawley Tariff
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1930, highest tariff in history, 50% duties, stopped international trade with US
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Business Cycle
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good times-surplus (cutbacks on productivity, labor)-recession-depression-surplus used up
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rugged individualism
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Hoover's response to depression, success comes through individual effort and private enterprise
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farmers affected by depression
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decreased crop prices, foreclosures, had to destroy crops and livestock
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Josefina Fierro de Bright
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organized against discrimination of Mexicans in SW, led marches and strikes
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families affected by depression
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malnutrition, less marriage, birthrate dropped, divorce increased, education decreased
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actions taken by Hoover administration
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stimulating economy- encouraged revival of biz, coping with farm crisis- Agricultural Marketing Act (bough surplus), Reconstruction Finance Corp- lent money to companies
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Election of 1932
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fair distribution of wealth, optimism, would incur debt to ease suffering
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Roosevelt's New Deal
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programs for helping the US economy during depression- reform, relief, recovery
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Reform
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bank holiday, examination of banks, bank insurance, low interest on long term loans, mortgage payments
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Relief
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FERA- handouts, CCC, CWA, PWA- jobs, Agricult. Adjust. Act= subsidize farmers, TN Valley Authority= 8 states, make work program, improvement
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Recovery
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reduce unemployment, stimulate economy, PWA- big jobs, Nat'l Recovery Act= businesses work together, set wages/hrs/etc.
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Emergency Banking Act
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gov't examined all banks, only allowed financially sound ones to reopen, urged ppl to invest in banks
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Federal Deposit Insurance Corporation
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ensured bank deposits up to $2500
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Securities & Exchange Commission
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prevent abuses and frauds, restored confidence in stock market and banks
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Federal Emergency Relief Administration
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gave direct handouts
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Farm Credit Administration
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provided low interest, long term loans to farmers, could pay off mortgages, taxes, purchase land/equipment
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Home Owners Loan Corporation
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help home owners who wouldn't meet mort. payments
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Make work programs
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Civilian Conservation Corps, Civil Works Admin, Public Works Admin
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Agricultural Adjustment Act
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deemed unconstitutional, subsidize farmers, pay them not to produce, supply goes down, prices go up- hurts consumer
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National Recovery Act
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deemed unconstitutional, businesses work together to set prices/wages/etc.- worker/consumer hurt, monopolies
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Tennessee Valley Authority
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revitalized 8 state region, make work program that improved region- damns, electricity, schools, hospitals
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Indian Reorganization Act
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revived tribal rule, funds to start tribal biz, pay for college of young NAs, promote study of NA culture
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critics of FDR
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Townshend (grant pension to elders), liberals (not doing enough), ALL (pro-biz), Coughlin (Jews out of banks), Long (Share our Wealth, tax rich)
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2nd New Deal
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more public work programs, labor reforms, long term reform
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Works Progress Admin
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women/blacks not equal, NYA, created jobs, paid for kids to stay in school
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Mary McLeod Bethune
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black cabinet, director of Division of Negro affairs of NYA
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Social Security Act
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unemployment insurance, pensions, death benefits
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Election of 1936
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democrats, working class support
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FDR wants more judges on supreme court
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b/c several new deal measures deemed unconstitutional
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Wagner Connery Act
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pro labor, labor's right to organize, union membership up
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2nd new deal and farmers
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good- loans, migrant camps, bad- less farm production
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Dust Bowl
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severe drought in great plains, winds picked up dry topsoil
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Okies
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migrant workers from Oklahoma
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Dorothea Lange
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FSA photographer, took pictures of American struggles
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Federal Project Number 1
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encourage pride in American culture by providing work to artists, writers, actors, musicians
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regionalists
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midwestern artists that stressed local folk themes and customs
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