Causes of the Great Depression and the major New Deal programs and their lasting effects for AP US History.
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- What major event in October 1929 is often cited as the beginning of the Great Depression?
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The stock market crash, commonly known as Black Tuesday (October 29, 1929)- What economic practice involved buying stocks with borrowed money, amplifying losses when prices fell?
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Speculation, or buying on margin- How did bank failures during the Great Depression deepen the economic crisis?
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They wiped out depositors' savings, since deposits were not insured, reducing consumer spending and investment- What agricultural crisis in the Great Plains during the 1930s compounded the Great Depression?
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The Dust Bowl, caused by drought and poor farming practices that created massive dust storms- Which economic factor during the 1920s meant that most wealth gains did not reach ordinary workers?
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Unequal distribution of wealth, or income inequality- How did the Smoot-Hawley Tariff of 1930 worsen international economic conditions?
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It raised US import duties, prompting other countries to retaliate with their own tariffs, reducing global trade- What installment buying trend of the 1920s left consumers vulnerable during the Depression?
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Purchasing on credit became common; when incomes fell, consumers could not pay their debts- What overproduction problem plagued agriculture throughout the 1920s and into the Depression?
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Farmers produced more crops than could be sold, driving prices down and reducing farm income- Which New Deal agency was created in 1933 to insure bank deposits and restore confidence in banks?
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The Federal Deposit Insurance Corporation, or FDIC- What was the primary purpose of the Civilian Conservation Corps (CCC)?
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To employ young men in conservation work, planting trees, building trails, and protecting natural resources- Which New Deal agency was responsible for most of the public works construction projects of the 1930s?
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The Works Progress Administration, or WPA- What was the Tennessee Valley Authority (TVA) designed to accomplish?
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To develop the Tennessee River valley through dams, hydroelectric power, and regional economic development- Which New Deal law established the Social Security program?
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The Social Security Act of 1935- What was the purpose of the National Recovery Administration (NRA)?
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To set industry codes for fair competition, wages, and working conditions- Which New Deal law was passed to regulate stock markets and prevent speculation?
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The Securities Act of 1933 and the Securities Exchange Act of 1934, creating the Securities and Exchange Commission (SEC)
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