1.
Payments to people who have lost their jobs is called ________________.
Correct Answer
B. Unemployment insurance
Explanation
Unemployment insurance refers to the payments provided to individuals who have lost their jobs. This financial assistance is designed to support those who are temporarily unemployed and help them meet their basic needs while they search for new employment. It is a social safety net program that aims to provide economic stability and prevent individuals from falling into poverty during periods of unemployment.
2.
This created a tax on workers and employees to provide pensions for retired people.
Correct Answer
B. Social Security Act
Explanation
The Social Security Act created a tax on workers and employees to provide pensions for retired people. This act was a key component of President Franklin D. Roosevelt's New Deal program, aimed at providing economic security for Americans during the Great Depression. The Social Security Act also established unemployment insurance and assistance for dependent children and the disabled. It was a significant step towards establishing a social safety net in the United States.
3.
In 1935 Roosevelt launched a new set of programs and reforms called ______________________. The laws passed at this time changed American life even more than the Hundred Days had done.
Correct Answer
C. Second New Deal
Explanation
The Second New Deal was launched by Roosevelt in 1935 as a continuation of his efforts to combat the Great Depression. This set of programs and reforms aimed to provide further relief, recovery, and reform to the American people. The laws passed during this time had a significant impact on American life, surpassing even the changes brought about by the Hundred Days. The Second New Deal included initiatives such as the Works Progress Administration (WPA), the Social Security Act, and the National Labor Relations Act, among others. These measures sought to address unemployment, poverty, and inequality, and to establish a more secure social safety net for the American population.
4.
Payment for older people is called a __________________.
Correct Answer
C. Pension
Explanation
Payment for older people is commonly referred to as a pension. A pension is a fixed amount of money paid regularly to a person who has retired from work. It is a form of financial support provided by the government or an employer to ensure that individuals have a stable income after they have stopped working.
5.
People who moved place to place to harvest fruits and vegetables were called __________________.
Correct Answer
A. Migrant workers
Explanation
The correct answer is migrant workers. Migrant workers are individuals who move from one place to another in order to find work, often in agricultural fields. They are not considered nomads or wanderers because their movement is primarily driven by economic reasons rather than a nomadic lifestyle. Farmers, on the other hand, typically own or work on a specific plot of land and do not frequently change their location for work purposes.
6.
An environmental disaster hitting the Great Plains during the 1930's.
Correct Answer
B. Dust Bowl
Explanation
The correct answer is Dust Bowl. The Dust Bowl refers to a period of severe dust storms that occurred in the Great Plains of the United States during the 1930s. It was a result of a combination of drought, poor farming practices, and strong winds, which led to the erosion of topsoil and the creation of massive dust storms. The Dust Bowl had a devastating impact on agriculture, economy, and the environment, causing widespread crop failures, economic hardship, and forced migration of farmers to other regions.
7.
Grants of money given to farmers to make up for the difference in profits made on the farm.
Correct Answer
C. Subsidies
Explanation
Subsidies are grants of money given to farmers to compensate for the difference in profits made on the farm. These funds are provided by the government to support and encourage agricultural production. Unlike pensions and retirement funds, which are financial provisions for individuals after they retire, subsidies are specifically targeted towards farmers. Work relief, on the other hand, refers to programs that provide employment opportunities to individuals during times of economic hardship and is unrelated to agricultural subsidies.
8.
Government jobs given to needy people were called ______________ programs.
Correct Answer
C. Work relief
Explanation
The term "work relief" refers to government programs that provide employment opportunities to individuals in need. These programs aim to alleviate poverty and unemployment by offering jobs and income to those who are struggling. This term is commonly associated with initiatives such as the Works Progress Administration (WPA) in the United States during the Great Depression.
9.
A special session of Congress President Roosevelt called to launch his programs was called __________.
Correct Answer
A. Hundred Days
Explanation
The correct answer is "Hundred Days". This refers to the special session of Congress that President Roosevelt called to launch his programs. During this period, which lasted from March to June 1933, Roosevelt implemented numerous policies and legislation aimed at addressing the Great Depression. The Hundred Days marked a significant and productive period in Roosevelt's presidency, during which he laid the foundation for his New Deal programs.
10.
Federal spending on projects such as highways, parks, and libraries to create jobs was called _____________.
Correct Answer
B. Public works
Explanation
Public works refers to federal spending on projects such as highways, parks, and libraries with the aim of creating jobs. These projects are typically funded by the government and are intended to provide a public benefit, such as improving infrastructure or enhancing community spaces. The term "public works" is commonly used to describe these types of projects and the employment opportunities they generate.
11.
Aid for the needy is called ______________.
Correct Answer
A. Relief
Explanation
Aid for the needy is referred to as "relief." This term is commonly used to describe assistance provided to individuals or communities who are experiencing hardship or facing difficult circumstances. Relief efforts can include providing food, shelter, medical care, or financial support to those in need. It is a way for governments, organizations, or individuals to help alleviate suffering and provide support during times of crisis or adversity.
12.
Failing to meet loan payments is a ____________.
Correct Answer
A. Default
Explanation
Failing to meet loan payments is referred to as a "default." This means that the borrower is unable to fulfill their financial obligation to repay the loan according to the agreed terms. In such cases, the lender may take legal action to recover the outstanding amount and may also report the default to credit bureaus, which can negatively impact the borrower's credit score.
13.
Buying stock for a fraction of the price then borrowing the rest from brokers is called buying _________________.
Correct Answer
C. On margin
Explanation
Buying stock on margin refers to the practice of purchasing stocks by paying only a fraction of the total cost and borrowing the remaining amount from a broker. This allows investors to leverage their investments and potentially increase their returns. However, it also exposes them to higher risks, as any losses incurred on the borrowed amount need to be repaid, and the broker may require additional collateral if the value of the stocks drops significantly.
14.
An organized system for buying and selling shares, or blocks of investments, is called __________________.
Correct Answer
C. Stock exchange
Explanation
A stock exchange is an organized system where individuals and institutions can buy and sell shares or blocks of investments. It provides a platform for trading securities such as stocks, bonds, and derivatives. Stock exchanges facilitate liquidity, transparency, and price discovery in the market by bringing together buyers and sellers. Through the stock exchange, investors can participate in the financial markets and trade securities according to established rules and regulations.
15.
New laws that Congress passed during the Hundred Days-and in the months and years that followed- came to be called _____________________.
Correct Answer
B. New Deal
Explanation
The correct answer is "New Deal". During the Hundred Days and the subsequent months and years, Congress passed a series of new laws that aimed to address the economic challenges of the Great Depression. These laws, collectively known as the New Deal, implemented various programs and initiatives to provide relief, recovery, and reform. The New Deal had a significant impact on the American economy and society, introducing measures such as the creation of jobs, regulation of banks, and the establishment of social welfare programs.