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Ch. 21 - The Great Depression Flashcards | StudBud
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Ch. 21 - The Great Depression
Ch. 21 - The Great Depression
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Ch. 21 Great Depression review
Flashcards
32 cards
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Practice quiz
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Questions
32
Answers
1
Risky stock purchases made by investors with the hope of high returns are called.....
speculation
bonds
buying on margin
investments
2
What was the name of Dust Bowl migrants who moved from Oklahoma?
Plains Folk
Okies
Exodusters
Dust Bowlers
3
Which factor contributed to the spread of the Great Depression overseas?
the US stopped investing in Europe
Congress lowered tariffs on foreign imports
American industry reduced production levels
Europe increased trade to the US
4
How did the uneven distribution of the nation's wealth lead to the depression?
wealthy people grew wealthier and had money to spend
getting a line of credit was easy causing debt for people
Farmers had huge surpluses of crops but demand went down
ALL OF THE ABOVE
5
The policy of volunteerism called for which of the following?
higher taxes
public works programs
less reliance on charity
cuts in employment and wages
6
President Hoover responded cautiously to the Great Depression because he....
was distracted by giant dust storms in Great Plains
believed federal government needed to take active approach
did not have any experience with business methods
thought the business cycle would fix itself
7
During the 1920's the U.S. economy moved through which phase of the business Cycle?
depression
expansion
peak
contraction
8
Which of these factors helped hide economic problems in the 1920s?
Americans purchased many consumer goods on credit
wages increased at the same pace as worker productivity
Investors lost confidence
farmers sold crop surpluses
9
Congress instituted the RFC (Reconstruction Finance Corporation) to loan money to....
investors to buy more dangerous stocks
banks so they could lend money to businesses
depositors so they can withdraw savings from banks
European nations
10
In 1929, the stock market crashed because.....
The Federal Reserve increased the money supply
the housing market slowed
investors panicked and rushed to sell their stocks
Germany stopped making WWI payments
11
Why did volunteerism fail?
Businesses and citizens acted in their best interest
Charities took control of state relief efforts
President Hoover supported government help instead
Banks made too many loans to struggling businesses
12
Mexican Americans and African Americans had an especially difficult time during the GD because:
were forced to migrate from the South to find work in North
faced discrimination when competing with white Americans
had to fight repatriation efforts
had little community and family support
13
What does this photograph show?
bank closures
the stock market crash
the Dust Bowl
a Hooverville
14
Which group experienced an early depression in the 1920s?
farmers
industrial workers
WWI veterans
bank owners
15
At the onset of the Great Depression, urban unemployment...
decreased slightly
increased dramatically
stayed about the same
increased slightly
16
Why did President Hoover's response to the Great Depression fail?
He created thousands of gov. jobs but no one applied
people did not like the jobs he offered
too cautious! wanted "volunteerism" but people too broke
He relied on foreign countries for help
17
The unemployment rate among African Americans was....
slightly lower than the national rate
about the same as the national rate
nearly double the national rate
slightly higher than national rate
18
Some Americans blamed the Great Depression on...
communism
capitalism
fascism
socialism
19
The theory that money invested in banks and businesses will work its way through the system...
trickle-down economics
Keynesian economics
rugged individualism
communism
20
Why were banks one of the first institutions to feel the effects of the stock market crash?
Banks gave out too many loans in 1920s
Federal Reserve increased interest rates
they were an easy target for blame
Frightened depositors began to remove money from banks
21
This man was the president when the stock market crashed (he was NOT re-elected!):
Hoover
Warren G. Harding
Calvin Coolidge
FDR
22
Why did many Americans decide that the country needed new leadership in 1932?
prices for farm products were rising again
they were tired and hungry
wanted to pay WWI veterans their bonuses early
Hoover's volunteerism/ trickle-down economic policies failed
23
What event happened when the veteran groups marched in protest on Washington?
they received their bonuses early
Congress ordered Gen. MacArthur to forcibly remove troops
20,000 protestors set up peaceful camps
Federal troops used tear-gas & marched with bayonets on vets
24
What economic condition did economist Keynes believe caused the Great Depression?
lack of government help
too much oversight of the banking system
limits on production and consumer spending
strict controls on stock speculation
25
What was the destination of most Dust Bowl migrants?
cities to find work
agricultural areas to the north
California's central valley
industrial northeast
26
Why did the Bonus Army march on Washington DC?
They were tired and hungry, looking for work
General MacArthur attacked protestors demanding their bonus
Hoover & the Senate vetoed a bill for early payment
Federal Reserve refused to pay veterans their bonuses
27
What event occured on Black Tuesday?
Germany stopped payments to US
Unemployment reached 25%
The Federal Reserve lowered interest rates
Investors sold more than 16 million shares of stock
28
The Reconstruction Finance Corporation was created because the economy suffered from....
a lack of credit
too much government regulation
over-employment
a concentration of wealth in large businesses
29
Farmers contributed to the new problems that led to the Dust Bowl by...
damming western rivers and using irrigation techniques
moving off the plains to find new farmland
using intensive farming that removed protective grasses
putting down new layers of topsoil
30
People likely abandoned this place because...
they lost their investments
the banks and businesses closed nearby
the land could not be farmed
too many homeless people lived there
31
Which of these factors contributed to the plight of rural farmers?
falling prices for crops and livestock
increased demand for agricultural products
decreased debt burden
a long rainy season
32
European countries reacted to the Hawley-Smoot Tariff by....
lowering prices on European goods
passing high protective tariffs/taxes
importing more American goods
increasing global trade
