Podcast
Questions and Answers
What was a major contributing factor to the bank failures during the Great Depression?
What was a major contributing factor to the bank failures during the Great Depression?
- Rising inflation rates
- People's inability to repay loans (correct)
- Increased government spending
- Strong economic growth
Which event occurred chronologically before the Tennessee Valley Authority was created?
Which event occurred chronologically before the Tennessee Valley Authority was created?
- The Social Security Act being passed
- The stock market crash of 1929
- The assembly line making consumer goods more affordable (correct)
- The adoption of the New Deal policies
In terms of government involvement in the economy, which view was held by Herbert Hoover but NOT by Franklin Roosevelt?
In terms of government involvement in the economy, which view was held by Herbert Hoover but NOT by Franklin Roosevelt?
- Government should regulate all aspects of the economy
- Government involvement might lead to socialism (correct)
- Minimal government intervention is necessary for economic stability
- Government should provide direct relief to citizens during economic crises
Which economic situation described by President Obama in his speech is indicative of a low point in the business cycle?
Which economic situation described by President Obama in his speech is indicative of a low point in the business cycle?
What is President Obama's general opinion regarding the federal government's role in the economy?
What is President Obama's general opinion regarding the federal government's role in the economy?
Flashcards
Great Depression bank failures cause?
Great Depression bank failures cause?
People's inability to repay their loans.
Event before TVA creation?
Event before TVA creation?
The assembly line made consumer goods more affordable before the TVA's creation.
Hoover's view on government?
Hoover's view on government?
Government involvement might lead to socialism.
Recession
Recession
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Obama's opinion on government?
Obama's opinion on government?
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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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