The New Deal was a series of programs and policies introduced by President Franklin D. Roosevelt in response to the economic turmoil of the Great Depression. This major policy aimed at providing economic relief, promoting recovery, and reforming the financial system to prevent a future depression. It included initiatives such as the establishment of the Social Security Administration, various job creation programs like the Civilian Conservation Corps and the Works Progress Administration, as well as regulatory reforms in the banking industry.
The New Deal was significant because it represented a substantial shift in the role of the federal government in the economy, emphasizing government intervention to provide direct relief to those affected by the economic collapse. This helped to stabilize the economy, restore public confidence, and set the foundation for future social welfare policies.
The other options reflect different historical contexts or initiatives that do not relate directly to addressing the economic challenges of the Great Depression. The Marshall Plan was focused on rebuilding Europe after World War II, the Employment Act aimed to promote maximum employment and economic stability, but was not specific to the Great Depression, and the Homestead Act was legislation from the 19th century promoting westward expansion by providing land to settlers.