Chapter 11 - The Great Depression begins

Question 1

In the late 1920s what was the goal of the Federal Reserve with regard to buying on margin?

Accepted Answer

make it harder & more expensive to offer loans to investors

Question 2

Which of the following most clearly signaled economic weakness in the 1920s?

Accepted Answer

uneven distribution of wealth

Question 3

In the aftermath of the market crash, industrialized nations around the world took measures to

Accepted Answer

protect themselves by passing high tariffs.

Question 4

Foreclosures happen when lenders take over a property from owners who did not pay loan payments

Accepted Answer

True

Question 5

Migrants who headed west in search of better lives.

Accepted Answer

Okies

Question 6

What was the Bonus Army?

Accepted Answer

Veterans who wanted their bonuses early

Question 7

In 1932 most families who lost jobs

Accepted Answer

begged, became hoboes, or went without food.

Question 8

The popularization of the stock market in the 1920's now included which group

Accepted Answer

Women

Question 9

What did President Hoover say about direct relief for the unemployed?

Accepted Answer

The federal govt shouldn't provide direct help

Question 10

Harding, Coolidge, and Hoover believed in what ideologies

Accepted Answer

less strict regulations on business or the market

Question 11

The 1920s were good times for farmers and organized labor.

Accepted Answer

False

Question 12

After the market crashed, consumers kept buying luxury items

Accepted Answer

False

Question 13

The ___________ was created by private business and the federal government working together

Accepted Answer

Hoover Dam

Question 14

How did the Federal Reserve contribute to the weakness of the stock market in the early 1920s?

Accepted Answer

Keeping interest rates low

Question 15

The _______________________ is the total value of all goods and services produced in a nation

Accepted Answer

gross national product

Question 16

Hoover’s belief in “rugged individualism” meant that individuals needed help from the govt.

Accepted Answer

False

Question 17

President Hoover downplayed the effects of the stock market crash

Accepted Answer

because he believed the economy would recover.

Question 18

Why did stock prices begin to decline in late 1929?

Accepted Answer

Investors began to sell stock w/o people willing to buy more

Question 19

Why was buying on margin riskier than other ways of investing in the stock market?

Accepted Answer

Brokers could force investors to repay their loans.

Question 20

What caused farmers to lose their crops during the Great Depression?

Accepted Answer

Drought

Question 21

The stock market took its steepest dive on October 29, 1929 the day now known as?

Accepted Answer

Black Tuesday

Question 22

Shantytowns built by unemployed and homeless people were called

Accepted Answer

Hoovervilles

Question 23

Careless agricultural practices contributed to the creation of the Dust Bowl.

Accepted Answer

True

Question 24

Why did the Smoot-Hawley Tariff Act backfire?

Accepted Answer

European nations responded with tariffs of their own.

Question 25

What happened to depositor's money when a bank closed during the Great Depression?

Accepted Answer

They lost their money

Question 26

Homeless people who often rode trains.

Accepted Answer

Hoboes

Question 27

What was the main purpose of the Reconstruction Finance Corporation?

Accepted Answer

to provide government aid to banks and insurance companies

Chapter 11 - The Great Depression begins

Questions 27

Chapter 11 - The Great Depression begins

Questions 27