Chapter 21 - The Great Depression

Question 1

The total value of all goods and services produced in a nations is

Accepted Answer

gross national product

Question 2

During the boom years of the 1920s unemployment...

Accepted Answer

remained low, averaging about 5% nationwide

Question 3

Why was buying on margin riskier than other ways of investing?

Accepted Answer

Brokers could force investors to repay loans

Question 4

What did investors do on Oct. 24th, 1929 because they were concerned about the stock market?

Accepted Answer

sold their stock

Question 5

The value of a stock goes up when a company is not doing well.

Accepted Answer

False

Question 6

"Sooner or later a crash is coming, and it may be terrific." -

Accepted Answer

Roger Babson

Question 7

Why did Hoover downplay the crash?

Accepted Answer

he believed the economy would fix itself

Question 8

Loose-knit communities of rustic shacks and tents

Accepted Answer

Hoovervilles

Question 9

Raised to cost of imported goods for Americans - would force them to buy American goods

Accepted Answer

Smoot-Hawley Tariff Act

Question 10

The term used to describe the devastation of the Great Plains drought.

Accepted Answer

Dust Bowls

Question 11

Settlements for the homeless

Accepted Answer

Hoovervilles

Question 12

What did the Great Plains Drought of the 1930s help create

Accepted Answer

the Dust Bowl

Question 13

How did unemployed people feel about accepting handouts?

Accepted Answer

ashamed, angry

Question 14

This was create by the federal government and private businesses working together

Accepted Answer

Hoover Dam

Question 15

Why did the Smoot-Hawley tariff bill backfire?

Accepted Answer

European nations responded with tariffs of their own

Question 16

In the mid 1920s, how did American behavior change in accordance with the stock market?

Accepted Answer

Americans of modest means started investing

Question 17

Total value of goods and services a nation produces within a year

Accepted Answer

GNP

Question 18

The 1920s were bad times for farmers and

Accepted Answer

organized labor

Question 19

People who hopped trains were known as

Accepted Answer

Hoboes

Question 20

Term for the Great Plains area that was hardest hit by the 1930s drought

Accepted Answer

Dust Bowl

Question 21

"Black Tuesday" refers to the collapse of the

Accepted Answer

stock market

Question 22

President who advocated for voluntary partnerships between gov't and businesses

Accepted Answer

Hoover

Question 23

The American public believed Hoover was doing everything he could to help during the Depression

Accepted Answer

False

Question 24

What was the main signal of economic weakness in the 1920s?

Accepted Answer

uneven distribution of wealth

Question 25

Main purpose of the Reconstruction Finance Corporation?

Accepted Answer

provide government aid to struggling banks

Question 26

Insulting name given to the workers fleeing the Dust Bowl

Accepted Answer

Okies

Question 27

Why did the Federal Reserve change its policy about buying on margin?

Accepted Answer

to make it more expensive and difficult to the broker

Question 28

How could you identify a Hooverville?

Accepted Answer

Shacks were popping up and people were destitute

Question 29

Careless agricultural practices contributed to the Dust Bowl.

Accepted Answer

True

Question 30

WWI veterans who's protest was violent interrupted by current soldiers

Accepted Answer

Bonus Army

Chapter 21 - The Great Depression

Questions 30

Chapter 21 - The Great Depression

Questions 30