Questions and Answers
What was a major contributing factor to the bank failures during the Great Depression?
People's inability to repay loans
Which event occurred chronologically before the Tennessee Valley Authority was created?
The assembly line making consumer goods more affordable
In terms of government involvement in the economy, which view was held by Herbert Hoover but NOT by Franklin Roosevelt?
Government involvement might lead to socialism
Which economic situation described by President Obama in his speech is indicative of a low point in the business cycle?
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What is President Obama's general opinion regarding the federal government's role in the economy?
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Study Notes
Causes of Bank Failures
- Bank failures during the Great Depression were caused by people's inability to repay loans.
Industrial Revolution
- The assembly line made consumer goods more affordable.
Herbert Hoover's View on Government Involvement
- Herbert Hoover believed that government involvement in the economy might lead to socialism.
Franklin D. Roosevelt's View on Government Involvement
- Franklin D. Roosevelt did not share Herbert Hoover's view on government involvement in the economy.
Tennessee Valley Authority (TVA)
- The TVA was created to generate electricity for a region.
President Obama's View on Government Involvement
- President Obama believes that the federal government plays a crucial role in the US economic success.
Economic Situation
- President Obama described the economic situation as a trough, implying a low point in the economy.
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