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