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