What is a "Price Support?"

Gov. maintaining the market prices regardless of supply or demand.

What was President Hoover's initial reaction to the Depression?

Economy will fix itself; gov't should not interfere

What was "The Dust Bowl?"

An area of OK, KS, CO and TX affected by severe soil erosion & dust storms

What was the "Bonus Army?"

World War I veterans who marched on Wash. DC to get bonus pay from WWI

What was "The Great Depression?"

The financial and industrial slump of 1929 and following years.

What typically happens to a bank when there is a "Run" on it?

Banks collapse because they don't have the money to handle the withdrawals.

What was the "Reconstruction Finance Corp."

Provided fiscal support to state/ local govs. & made loans to companies

What happened on Oct 29th 1929 - "Black Tuesday?"

The Stock Market crashed - resulting in the loss of $30 Billion in one day.

What were bread lines & Soup kitchens?

Were free or low priced soup and bread given to those in dire need.

In terms of the Stock Market - what is the definition of "Speculation?"

Buying stocks on the chance of a quick profit, ignoring the risks.

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Ch.22 Quiz Review

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Questions 20

Answers

1
What was the name of the tariffs that were the highest ever imposed by the US Government?
Roosevelt-Eisenhower Tariff Act
Hawley-Smoot Tariff Act
McCarthy-Dome Tariff Act
Rodgers-Stark Tariff Act
2
Where did the Dust Bowl take place?
Caribbean
West Coast
The Great Plains
East Coast
3
When Oil became an energy resource in the 1920's - what major industry collapsed, causing 100,000's of lost jobs?
Railroads
Steel
Textiles
Coal
4
What is a "Price Support?"
When the free market helps businesses by maintaining market prices
All of the Above
When an insurances company provides money to a company near bankruptcy.
Gov. maintaining the market prices regardless of supply or demand.
5
During the Depression - What was a "Shantytown?"
many shacks made out of whatever materials could be found nearby.
Farming collectives where people would all stay together in any building.
Locations in cities where tents or boards could be put up for people.
All of the Above
6
What was President Hoover's initial reaction to the Depression?
Run and hide!
Economy will fix itself; gov't should not interfere
Increase spending on social welfare programs
Turn into a dictatorship
7
What was "The Dust Bowl?"
A college bowl game started in the 1920's.
An area of Western Canada affected by severe soil erosion in the 1930s.
An area of OK, KS, CO and TX affected by severe soil erosion & dust storms
A mine disaster in Centralia PA where a mine collapse caused a huge dust cl
8
What was the "Bonus Army?"
World War I veterans who marched on Wash. DC to get bonus pay from WWI
Former US Gov. employees who demanded fair pay after the Depression.
US National Guard marched on Wash. DC to get backlog pay for filling jobs
Police veterans who marched on Wash. DC to get backlog pay from the Gov.
9
What did Franklin D. Roosevelt (FDR) Say when he heard about the Bonus Army Incident?
"This will get me impeached..."
"This Hoover has won the election..."
"This has made Hoover go crazy..."
"This will elect me..."
10
Who became President in 1928, and was in charge during The Great Depression?
Herbert Hoover
Franklin D. Roosevelt
Woodrow Wilson
Warren G. Harding
11
In the 1920's - which of these caused a number of Disruptive Innovations in the US?
Oil
Solar Energy
Sugarcane
Textiles/Clothing
12
What was "The Great Depression?"
What any student goes through when they realize they have Homework to do.
The social-economical status of minority communities from 1910 to 1920.
The financial and industrial upswing of the 1920's which lasted until 1929.
The financial and industrial slump of 1929 and following years.
13
Why did Herbert Hoover not want people to rely so heavily on the Government for aide?
Because he didn't believe it was Governments job to help average citizens.
Because he believed only privates businesses and consumers could fix it.
All of the Above
Because he didn't want Americans to become reliant on Government handouts.
14
What typically happens to a bank when there is a "Run" on it?
New depositors "Running" to get a new special deal with a bank's opening.
The Bank's value goes up as people deposit vast sums of money.
Banks collapse because they don't have the money to handle the withdrawals.
None of the Above
15
Which US citizens were hurt the most when World War I ended - and were the first part of the economic collapse in 1929?
Retail Workers
Farmers
Miners
Factory Workers
16
What was the "Reconstruction Finance Corp."
Provided food & supplies to families who lost everything.
A Corp. responsible for financing peoples personal loans during the 1930's.
All of the Above
Provided fiscal support to state/ local govs. & made loans to companies
17
What happened on Oct 29th 1929 - "Black Tuesday?"
The day that Seabiscuit broke his leg after the legendary match-race.
The Stock Market skyrocketed - gaining $30 Billion in one day.
30,000 people died in one day due to The Great Depression's conditions.
The Stock Market crashed - resulting in the loss of $30 Billion in one day.
18
What were bread lines & Soup kitchens?
People waiting outside of the NY Stock Exchange hoping for their last check
Were free or low priced soup and bread given to those in dire need.
People waiting for Gov. aide
People standing in line waiting for "bread" or jobs to get money
19
In terms of the Stock Market - what is the definition of "Speculation?"
Buying stocks of companies that have never gone down.
Buying the stock that hit their highest point ever - called a "top."
Buying the stock that hit their lowest point ever - called a "bottom."
Buying stocks on the chance of a quick profit, ignoring the risks.
20
What were the main causes of "The Great Depression?"
Tariffs and War Debt policies from WWI hurt our trade with other countries
All of the Above
The availability of “easy” credit & The Stock Market Crash of 1929
The Farming Crisis of the 20’s into the 30’s

Ch.22 Quiz Review Flashcards | StudBud