The Great Depression

The speculative nature of the stock market, declining production and sales, growing debt, bank runs, decreased international trade, and high unemployment.

President Franklin Roosevelt.

Investors selling their stocks after heeding economist Roger Babson's warning.

<p>Relief, Recovery, Reform</p> Signup and view all the answers

<p>Public Works Administration, Works Progress Administration, Social Security, Agriculture Adjustment Administration</p> Signup and view all the answers

<p>Emergency Banking Act, Glass-Steagall Act, Securities Act, Reciprocal Tariff Act</p> Signup and view all the answers

<p>The New Deal helped stabilize the banking system and brought the GDP and manufacturing levels back to pre-Depression levels. However, unemployment remained high until the 1940s when production increased due to the war effort in World War II.</p> Signup and view all the answers

<p>Some economists argue that the New Deal should have spent more money to boost the economy further, while others believe that it prolonged the Depression by preventing natural recovery.</p> Signup and view all the answers

<p>Most scholars argue that the New Deal had a broadly positive effect.</p> Signup and view all the answers

<p>The war effort in World War II led to a skyrocketing production and a decrease in unemployment.</p> Signup and view all the answers