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Questions and Answers
What was the primary factor contributing to the collapse of the agricultural sector during the Great Depression?
What was the primary factor contributing to the collapse of the agricultural sector during the Great Depression?
- Overproduction and lower crop prices (correct)
- Rise in agricultural imports from Europe
- Drought and poor farming practices
- Lack of government subsidies and support
Which of the following was NOT a characteristic of the Reconstruction Finance Corporation (RFC) established in 1932?
Which of the following was NOT a characteristic of the Reconstruction Finance Corporation (RFC) established in 1932?
- Offered direct relief to individuals and families (correct)
- Provided loans to banks and other financial institutions
- Funded projects aimed at stimulating economic growth
- Was a temporary agency, dissolved after the crisis
What was the primary goal of the Federal Deposit Insurance Corporation (FDIC) established in 1933?
What was the primary goal of the Federal Deposit Insurance Corporation (FDIC) established in 1933?
- To insure deposits in banks and restore confidence in the banking system (correct)
- To provide loans to small businesses and entrepreneurs
- To manage the national debt and reduce government spending
- To regulate the stock market and prevent speculation
What was the name of the program established by President Franklin D. Roosevelt in 1935 to provide jobs and stimulate economic growth?
What was the name of the program established by President Franklin D. Roosevelt in 1935 to provide jobs and stimulate economic growth?
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What was the significance of the Glass-Steagall Act of 1933?
What was the significance of the Glass-Steagall Act of 1933?
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Study Notes
The Great Depression
- The primary factor contributing to the collapse of the agricultural sector during the Great Depression is not specified in the text, but it is a crucial topic to explore in the context of the era.
Reconstruction Finance Corporation (RFC)
- The RFC was established in 1932, but one characteristic it did NOT have is not mentioned in the text.
Federal Deposit Insurance Corporation (FDIC)
- The primary goal of the FDIC, established in 1933, was to provide deposit insurance to protect bank depositors in the event of bank failures.
New Deal Programs
- The program established by President Franklin D. Roosevelt in 1935 to provide jobs and stimulate economic growth was the Works Progress Administration (WPA).
Banking Reform
- The Glass-Steagall Act of 1933 was significant because it separated commercial and investment banking activities, reducing the risk of bank failures and promoting a more stable banking system.
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