2024/2025 Exam Questions and Answers
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Reconstruction Finance Corporation - 🧠ANSWER ✔✔a government
agency established during the Hoover administration which provided
emergency relief by loaning money to failing businesses
Bonus Army - 🧠ANSWER ✔✔a protest movement of World War I veterans
in 1932 demanding early payment of service bonuses not due until 1945 to
help them through the Great Depression and to provide a stimulus for the
economy
Smoot-Hawley Tariff - 🧠ANSWER ✔✔originally designed to protect
American industries by raising the cost of imported goods but resulted in a
trade war as other nations also raised their tariffs, leading to a huge
decrease in international trade
Glass-Steagall Act - 🧠ANSWER ✔✔established the Federal Deposit
Insurance Corporation (FDIC) which guaranteed all bank deposits up to
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,$5000 and separated commercial banks (could take deposits and make
loans with government guarantees) and investment banks (could invest in
the stock market at their own risk)
New Deal - 🧠ANSWER ✔✔a term for the programs and legislation
developed during Franklin Roosevelt's administration aimed at ending the
Great Depression
Fireside chats - 🧠ANSWER ✔✔speeches broadcast nationally over the
radio in which President Franklin Roosevelt explained complex issues and
programs in plain language
Economy Act - 🧠ANSWER ✔✔gave FDR the power to cut government
workers' salaries, reduce payments to military veterans for non-service-
connected disabilities, and to reorganize federal agencies in the interest of
reducing expenses; expanded the role of the presidency more then any
other act prior to it
Federal Emergency Relief Act (FERA) - 🧠ANSWER ✔✔granted federal
funds to state and local agencies to help the unemployed; pumped $500
million into state welfare programs
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, Civilian Conservation Corps (CCC) - 🧠ANSWER ✔✔the most popular New
Deal agency, through which unemployed young men worked in rural camps
planting forests, pruning trees, building parks, and shoring up the nation's
wild lands
Agricultural Adjustment Act - 🧠ANSWER ✔✔sought to shore up farm prices
with a program to plow under 10.5 million acres of cotton and slaughter 6
million piglets
Civilian Works Administration (CWA) - 🧠ANSWER ✔✔a short-lived U.S. job
creation program established by the New Deal during the Great Depression
to rapidly create manual labor jobs for 4 million men & women, mainly
improving or constructing buildings and bridges
Public Works Administration (PWA) - 🧠ANSWER ✔✔helped construction
workers get jobs doing public projects (highways, bridges, sewers)
National Industrial Recovery Act (NIRA) - 🧠ANSWER ✔✔a law enacted to
establish codes of fair practice for industries and to promote industrial
growth; established National Recovery Administration (NRA) to set
maximum hours and minimum wages for workers & stimulated industry by
fixing prices and setting production limits
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