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USHC 6.3 The Great Depression Flashcards | StudBud
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USHC 6.3 The Great Depression
USHC 6.3 The Great Depression
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StudBud Administration
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#USHC6.3 #GreatDepression
Flashcards
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Questions
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Answers
1
One sign that the economy might be weakening in the 1920s was...
the collapse of large corporations
underproduction of consumer goods
an increase in personal savings
uneven distribution of wealth
2
Which group experienced an early depression in the 1920s?
industrial workers
stock market investors
farmers
bank owners
3
Which of the following was a sign of an unsound economy during the 1920s?
the Dow Jones Industrial Average was steady
personal debt was decreasing
more goods were being produced than consumers could by
wages were keeping pace with production
4
What was one effect of the wage cuts and unemployment of the 1930s?
most industries gave top jobs to married women
the divorce rate nearly tripled
Hoovervilles sprang up in the nation's cities
banks pardoned thousands of farm mortgages
5
"Black Tuesday" refers to what event in US history?
day the South seceded from the Union
day JFK was assassinated
the day the stock market crashed
day Pearl Harbor was bombed
6
After the Crash, thousands of American banks closed, because they...
had to print new money
could not return depositors' money
had invested in European banks
charged too high an interest rate
7
During the 1920s, the US economy moved through which phase of the business cycle?
contraction
trough
peak
expansion
8
Buying stock on margin remained profitable as long as...
stock prices rose
buyers did not acquire collateral
buyers did not take out loans
stock prices fell
9
President Hoover responded cautiously to the Great Depression b/c he...
was distracted by the giant dust storms in the Plains
believed fed. government needed to take an active approach
though the business cycle would correct itself
didn't have any experience w/ business methods or economics
10
A major environmental crisis of the 1930s was known as ....
the Great Crash
Dust Bowl
Grapes of Wrath
Black Tuesday
11
In the fall of 1929, a wave of panic selling gripped the stock market as a result of...
corruption among stock brokers
business failures
a sudden fall in stock prices
government limits on speculation
12
What was the destination of most Dust Bowl migrants?
Kansas City
California
agricultural areas in the North
cities to find work
13
To get the Bonus Army marchers to leave the capital, General MacArthur...
negotiated with the veterans' leaders
gave a patriotic speech
paid them their bonus
used force
14
How did the federal reserve's tight monetary policy negatively affect the economy?
reduced % required to buy stock on margin, led speculation
reduced interest rates, which discouraged spending
reduced federal funds rate, which increased amount $ banks
reduced $ supply, which limited amount of $ in circulation
15
How did the uneven distribution of wealth lead to the depression?
wealthy were the only people buying consumer products
all of the above
credit caused more debt for people who can't make payments
farmers had large supplies but demand was very low
16
The collapse of the American economic system...
boosted American investment in Europe
increased demand for American-made goods
affected only the German economy
led to a worldwide depression
17
Many farms were auctioned off when farmers...
destroyed crops to protest low prices
began to irrigate crops
combined households to save money
could not pay their mortgages
