"Laissez-Faire" means:

no government involvement in the economy

In the 1920's, farmers dramatically increased their production of food, due to:

increased demand for food from Europe

Which of the following was a factor in the stock market crash in Oct. of 1929?

People bought overvalued stocks on credit

What happened when banks failed from 1929 - 1932?

Anyone with money in the bank lost all of their money

The majority of bank failures from 1929-1932 were caused by:

Over-investment in the stock market

The U.S. government responded to the Great Depression in 1929-1932 by:

Taking minor steps, but not doing anything big/ permanent

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Great Depression Causes: Review

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Quiz to review major causes of the Great Depression

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Questions 15

Answers

1
Which U.S. President said " The Business of America is Business." ?
Warren Harding
Calvin Coolidge
Theodore Roosevelt
Herbert Hoover
2
"Laissez-Faire" means:
high levels of government involvement in the economy
medium levels of government involvement in the economy
no government involvement in the economy
None of the above
3
In the 1920's, farmers dramatically increased their production of food, due to:
Decreasing Prices
increased demand for food from Europe
Increased demand for food from the U.S.
Increasing Prices
4
Which of the following was a factor in the stock market crash in Oct. of 1929?
People bought overvalued stocks on credit
people were unwilling to invest in new industries
The government spent too much money
Too much government regulation of the stock market
5
What happened when banks failed from 1929 - 1932?
the government helped them re-open
The government repaid investors' money
other banks helped out
Anyone with money in the bank lost all of their money
6
The collapse of the farming industry was caused by all of the following EXCEPT:
Overuse of credit by farmers
The Dust Bowl
Reduced Demand for Food Products
The Stock Market Crash
7
The majority of bank failures from 1929-1932 were caused by:
Overproduction of Goods
Too much government regulation
Too much government spending
Over-investment in the stock market
8
"Stocks" are :
Part ownership of a company
The profits people make from the stock market
Both A & B
None of the above
9
Which economic theory states that giving tax breaks to the rich will benefit everyone?
Socialism
Credit
Laissez - Faire
Trickle-Down Economics
10
All of the following are generally agreed upon causes of the Great Depression EXCEPT:
Increasing Gap Between the Rich & Poor
World War I
Overproduction
Crash of the Farmin Industry
11
More people in the U.S. were able to invest in the 1920's stock market, due to this practice:
laissez-faire
trickle-down economics
buying on margin
overproduction
12
When too much of a product is made (i.e. overproduction), what happens to price?
price goes down
price goes up
price stays the same
no impact can be determined
13
The "Okies" were
Both B &C
People who benefited from the stock market
Farmers who lost everything due to the Dust Bowl
Farmers who traveled west, looking for agricultural work
14
The invention of this in the 1920's allowed people without enough money to still buy goods.
Trickle-Down Economics
Laissez-Faire
Credit
Socialism
15
The U.S. government responded to the Great Depression in 1929-1932 by:
Blaming the business community for America's problems
Taking minor steps, but not doing anything big/ permanent
Creating several government programs to address the problems
Doing Nothing

Great Depression Causes: Review Flashcards | StudBud