Which program was enacted during the second New Deal quizlet?
The Second New Deal addressed the problems of the elderly, the poor, and the unemployed; created new public-works projects; helped farmers; and enacted measures to protect workers’ rights.
What is the main point of the story of federal investigator Lorena Hickok as related in the chapter introduction?
90 Cards in this Set
| The chapter introduction tells the story of federal investigator Lorena Hickok to make the point that | Depression bound Americans found hope in liberal social welfare programs of an activist federal government |
|---|---|
| During the Depression, the federal government began to deport | Mexicans |
What program was enacted during the second New Deal?
The most important programs included Social Security, the National Labor Relations Act (“Wagner Act”), the Banking Act of 1935, rural electrification, and breaking up utility holding companies.
Why did unemployment increase in 1937?
The 1937 recession occurred during the recovery from the Great Depression. According to the literature on the subject, the possible causes of that recession were a contraction in the money supply caused by Federal Reserve and Treasury Department policies and contractionary fiscal policies.
What was the GDP during the Great Depression?
U.S. GDP by Year Since 1929 Compared to Major Events
| U.S. GDP | ||
|---|---|---|
| Year | Nominal GDP (trillions) | Events Affecting GDP |
| 1929 | $0.105 | Depression began |
| 1930 | $0.092 | Smoot-Hawley |
| 1931 | $0.077 | Dust Bowl |
What was the GDP decline during the Great Depression?
30 percent
Did the GDP increase or decrease during the Great Depression?
The Great Depression was a severe worldwide economic depression that took place mostly during the 1930s, beginning in the United States. Between 1929 and 1932, worldwide gross domestic product (GDP) fell by an estimated 15%. By comparison, worldwide GDP fell by less than 1% from 2008 to 2009 during the Great Recession.
What happened to peoples money during the Great Depression?
Another phenomenon that compounded the nation’s economic woes during the Great Depression was a wave of banking panics or “bank runs,” during which large numbers of anxious people withdrew their deposits in cash, forcing banks to liquidate loans and often leading to bank failure.
Can Banks Keep your money during recession?
The Federal Deposit Insurance Corp. (FDIC), an independent federal agency, protects you against financial loss if an FDIC-insured bank or savings association fails. Typically, the protection goes up to $250,000 per depositor and per account at a federally insured bank or savings association.