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Great Depression
Great Depression
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StudBud Administration
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Quiz on the beginning of the Great Depression and some general economic terms.
Flashcards
23 cards
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Questions
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Answers
1
What was a cause of the Great Depression?
The start of the Dust Bowl
The election of Herbert Hoover
The government getting involved in the economy
The stock market crash
2
Which was
NOT
a cause of the Dust Bowl?
thick layers of prairie grasses
drought
overproduction of crops
high winds
3
When there is more demanded than supplied that causes a/an
A loss of jobs
Prices to go down
Surplus
Shortage
4
What is the price at which the supply is the same as the demand?
Absolute Price
Differentiated Price
Equilibrium Price
Concurrent Price
5
What is the effect on prices of having more demand than supply?
Prices will go down
It depends on the product
Prices will go up
There is no effect
6
Buying stocks on the chance of a quick profit without considering risks is known as
buying on a margin.
living on credit.
profit-taking.
speculation.
7
What is another cause of the Great Depression?
The quick growth of the car industry
Not having enough industrial workers
Collapse of the farming sector
High unemployment
8
What was one of the causes of the Great Depression
Bank Failures
People moving to the cities
Not enough jobs
Too much buying on credit
9
What is the amount producers tend to produce at expected prices?
Consumption
Equilibrium Price
Supply
Demand
10
What was the effect of the Smoot-Hawley Tariff?
It lowered prices on all products
Other countries retaliated and it made the depression worse
It made more foreign products available
It created problems with banks
11
What gov't agency was established to help solve labor disputes between unions and employers?
National Labor Relations Board
Agricultural Adjustment Agency
U.S. Labor Negotiation Committee
National Industrial Recovery Agency
12
Another reason for the Great Depression was...
The collapse of the housing market
People buying fewer consumer goods
Uneven distribution of income
The decreased value of the dollar
13
Which of these was made to increase people's confidence in banks during the Great Depression?
FDIC
PWA
WPA
AAA
14
Who made up the Bonus Army that marched on Washington?
farmers forced off their land by dust storms
Unemployed industrial workers and their families
Business and labor leaders who agreed to work together
World War I veterans and their families
15
The amount that consumers are able and willing to pay for a given product is...
Supply
Equilibrium
Demand
Surplus
16
The impact on prices of having more supplied than demanded is...
prices dropping
prices rising
prices remain stable
prices only change with the use of foreign currency
17
The government spending more money than what it takes in is
deficit spending
credit spending
decreased spending
incidental spending
18
What is it called when there is more supplied than demanded?
Surplus
Equivalent
Equilibrium
Shortage
19
The Wagner Act...
Re-established collective bargaining
gave help to the farmers of the Dust Bowl
started the FDIC
helped banks recover from their early failures
20
The ability to borrow or to buy goods & services with payment delayed past the delivery date is
debit
credit
debt
savings
21
One puprose of the Social Security Act was
to provide old age insurance/pension.
to help investors recover their losses.
to give children a better education for better jobs.
to make people feel safer about banks.
22
This group was used to help improve the environment as well as help with employment
Agricultural Adjustment Act
Farm Home Administration
Civilian Conservation Corps
National Recovery Administration
23
This board, created during the Great Depression, still acts as a mediator in labor disputes.
National Labor Relations Board
Business Mediation Board
Federal Dispute Board
Labor Settlement Board
