8th Grade Practice #5— Economics and Economic Systems (Content Specific) Directions: Use the charts and your knowledge of social studies to answer the questions below. The answers to these questions will help you write a well-written paragraph in addressing the task below. Task: Was the New Deal a success or failure? Gross Domestic Product (GDP) Define gross domestic product (GDP). President Year GDP 1929 $103.6 billion 1930 $91.2 Hoover 1931 $76.5 1932 $58.7 1933 $56.4 1934 $66.0 1935 $73.3 FDR 1936 $83.8 Based on the chart, how did the GDP change over time? 1937 $91.9 1938 $86.1 1939 $92.2 Source: BEA How did New Deal policies affect the GDP? Unemployment In what year was the unemployment rate the Unemployment President Year highest? Rate 1929 3.2% 1930 8.9% Hoover 1931 16.3% 1932 24.1% 1933 24.9% In your own words, summarize the 1934 21.7% information in the chart. 1935 20.1% FDR 1936 16.9% 1937 14.3% 1938 19.0% 1939 17.2% Source: BEA How did the New Deal affect the unemployment rate?
8th Grade Practice #5— Economics and Economic Systems (Content Specific) Directions: Use the charts and your knowledge of social studies to answer the questions below. The answers to these questions will help you write a well-written paragraph in addressing the task below. Task: Was the New Deal a success or failure? Gross Domestic Product (GDP) President Year GDP Hoover 1929 $103.6 billion 1930 $91.2 1931 $76.5 1932 $58.7 FDR 1933 $56.4 1934 $66.0 1935 $73.3 1936 $83.8 1937 $91.9 1938 $86.1 1939 $92.2 Define gross domestic product (GDP). Based on the chart, how did the GDP change over time? Source: BEA How did New Deal policies affect the GDP? Unemployment President Year Unemployment Rate Hoover 1929 3.2% 1930 8.9% 1931 16.3% 1932 24.1% FDR 1933 24.9% 1934 21.7% 1935 20.1% 1936 16.9% 1937 14.3% 1938 19.0% 1939 17.2% In what year was the unemployment rate the highest? In your own words, summarize the information in the chart. Source: BEA How did the New Deal affect the unemployment rate?