Exam 25: The New Deal

The government significantly raised farm incomes by raising farm prices by: (i)destroying crops,?(ii)slaughtering millions of baby pigs and pregnant sows,(iii)paying farmers not to grow crops and (iv)injecting dye into harvested potatoes,making them inedible.

The U.S.Supreme Court ruled that the tax on food processors in the 1933 Agricultural Adjustment Act (AAA)was unconstitutional.

The Bank Act of 1935 restructured the Federal Reserve System (FRS)in which of the following ways?

The Social Security Act (SSA)of 1935 provided a security net for individuals who found themselves without productive resources for a variety of reasons.Describe those individuals targeted by the SSA and explain under what conditions they were eligible in 1935.Did the initial creators of the SSA intend for it to be used as it is today? Explain.

Which of the following acts was/were designed to take out the risk in the securities industry?

The "New Deal" programs of the 1930s aimed at

The National Industrial Recovery Act of 1933 increased competition among firms.

The New Deal reduced

During the 1930s,labor legislation was

The use of federal power to set up a national health insurance was debated in Congress as early as 1938.Discuss why congressional efforts to pass an act establishing a national health insurance plan failed to pass then.Describe what has changed regarding this debate since then.

The Glass-Steagall Act of 1933 separated commercial banks from most of their securities business.

The decision to give the politically appointed members of the Federal Reserve Board an automatic majority weakened the power of the private sector in the determination of monetary policy.

President Franklin D.Roosevelt's first action regarding the run on banks was to

The National Industrial Recovery Act (1933)

In 1938,another Agricultural Adjustment Act was passed.The error of the 1933 Act was now avoided.What had that error been?

Implementation of the National Industrial Recovery Act (1933)positively impacted overall industrial production.

The research of Ben Bernanke (1983)found the banking system of the 1930s to be fundamentally flawed and unable to serve its function of financial intermediation.Federal help was needed.

Discuss the key transformations in labor history during the New Deal era.