10/8/24, 7:56 AM CP FINAL EXAM NEWEST 2024-2025 ACTUAL EXAM COMPLETE 140 QUESTIONS AND CORRECT DETAILED ANSWERS (VE…
CP FINAL EXAM NEWEST 2024-2025 ACTUAL
EXAM COMPLETE 140 QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS) |
Terms in this set (140)
a general increase in prices and fall in the purchasing
Inflation
value of money.
Deflation a decrease in the general level of prices
CPI (Consumer Price a measure of the overall cost of the goods and
Index) services bought by a typical consumer
the production of goods and services valued at
Real GDP
constant prices
the production of goods and services valued at
Nominal GDP
current prices
unemployment rate the percentage of the labor force that is unemployed
The Federal Reserve the central bank of the United States
Tariff A tax on imported goods
Stock Market A system for buying and selling shares of companies
A time of utter economic disaster; started in the
Great Depression
United States in 1929.
policy relied on by President Hoover in the early
years of the Great Depression whereby local and
localism
state governments act as primary agents of economic
relief
, 10/8/24, 7:56 AM CP FINAL EXAM NEWEST 2024-2025 ACTUAL EXAM COMPLETE 140 QUESTIONS AND CORRECT DETAILED ANSWERS (VE…
Hoover's strategy battling the Great Depression in
which the money is given to the big corporations and
Trickle Down Economics eventually they will pay their workers more, and then
the workers will spend their money and save the
economy.
huge public works project on the Colorado River that
Hoover Dam
provided jobs, water for irrigation, and power
1932 - Facing the financial crisis of the Depression,
WW I veterans tried to pressure Congress to pay them
their retirement bonuses early. Congress considered a
Bonus Army bill authorizing immediate assurance of $2.4 billion,
but it was not approved. Angry veterans marched on
Washington, D.C., and Hoover called in the army to
get the veterans removed
31st President of the United States - need to know
Herbert Hoover
responses to the Great Depression
Franklin D Roosevelt took office as president of the
United States. He started his presidency off with the
First Hundred Days, which was the beginning of the
Franklin D. Roosevelt
New Deal. During this period, FDR and congress
(FDR)
passed hundreds of bills that promoted social welfare
and initiated programs coined alphabet soup
programs.
informal talks given by FDR over the radio; gained the
Fireside Chats
confidence of the people
FDIC (Federal Deposit the government agency that insures customers'
Insurance Corporation) deposits if a bank fails
CCC (Civilian relief that provided work for young men 18-25 years
Conservation Corps) old in food control, planting, flood work, etc.
NRA (National Recovery New Deal agency that promoted economic recovery
Administration) by regulating production, prices, and wages
PWA (Public Works New Deal agency that provided millions of jobs
Administration) constructing public buildings
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