Great Depression Unit Exam

In the 1920s, the Federal Reserve contributed to weaknesses in the stock market by

keeping interest rates low.
lending to foreign companies.
lending to speculators.
speculating on market interest rates.

keeping interest rates low.

During the stock market crash of October 1929, prices were driven down by

banks being forced to close.
companies being forced out of business.
the government intervening in the market.
investors selling stocks at a frenzied pace.

The “Dust Bowl” was located in

the Great Plains.
the Midwest.
the Pacific Northwest.
the Southeast.

the Great Plains.

A long period of rising stock prices is known as a

bank run.
bull market.
foreclosure.
margin call.

“[They have] one-room shacks usually about 10 by 12 feet, have no rug, no water, no bed. In one corner there is a little iron wood stove. Water must be carried from the faucet at the end of the street.”—John Steinbeck, from Dust to Eat: Drought and Depression What is Steinbeck describing in the excerpt above?

boxcars in which hobos rode
farm buildings destroyed in dust storms
housing given to “Okies” in California
shacks in a Hooverville

housing given to “Okies” in California

Before the late 1920s, stock prices

did not change much.
generally reflected the stocks’ true value.
had little to do with the economy.
were too high for most people to afford.

generally reflected the stocks’ true value.

In addition to the stock market crash of 1929, the economy was shaken by a slowdown in

farm production.
mortgages.
retail sales.
tariff rates.

What percentage of American households owned stocks by 1929?

approximately 5%
approximately 10%
approximately 25%
approximately 50%

approximately 10%

“Hunger marches” in Washington, D.C., and other cities were organized by

the American Communist Party.
the Bonus Army.
farm organizations.
federal government agencies.

the American Communist Party.

In addition to the stock market crash in 1929, a key cause of the Great Depression was

deflation.
inflation.
overconsumption.
overproduction.

overproduction.

Wiped out by the Depression and by drought, many penniless families left the Dust Bowl and headed to
California.
the Midwest.
the South.
Washington, D.C.
California.

According to the chart, a decline in the sales of automobiles meant that there was less demand for

 employment.
 higher wages.
 repair shops.
 steel.
According to the chart, a decline in the sales of automobiles meant that there was less demand for

employment.
higher wages.
repair shops.
steel.

One reason that the stock market crash led to the Great Depression was that in 1929, the top 5 percent of all American households earned 30 percent of the nation’s income, an example of

a bull market.
a recession.
overproduction.
an uneven distribution of income.

an uneven distribution of income.

The National Credit Corporation tried to rescue troubled banks by allowing them to

continue lending money in their communities.
many goods produced by American industry were sold in foreign markets.
most Americans did not earn enough to buy the goods they helped produce.
speculators were eager to purchase stocks in American companies.

continue lending money in their communities.

Manufacturing output per person-hour rose 32 percent in the 1920s, but the average worker’s wage increased only 8 percent, which meant that

investment in the stock market led to overproduction.
many goods produced by American industry were sold in foreign markets.
most Americans did not earn enough to buy the goods they helped produce.
speculators were eager to purchase stocks in American companies.

most Americans did not earn enough to buy the goods they helped produce.

The bull market of the 1920s lasted only as long as

banks continued to invest in stocks.
investors continued putting new money into the market.
the federal reserve continued to lower interest rates.
stockbrokers continued to make loans to investors.

investors continued putting new money into the market.

As stock prices declined in 1929, the Hawley-Smoot Tariff led to

a decline in U.S. exports.
the growth of U.S. industry.
an increase in U.S. imports.
less competition for U.S. businesses.

a decline in U.S. exports.

“During [World War I] we necessarily turned to the government to solve every difficult economic problem. . . . When the war closed . . . we were challenged with a peacetime choice between the American system of rugged individualism and a European philosophy of diametrically opposed doctrines—doctrines of paternalism and state socialism.”—Herbert Hoover, campaign speech delivered October 22, 1928 In this excerpt, Herbert Hoover states that during World War I, the people of the United States had to rely on the government to

provide direct relief to families.
insure bank deposits.
regulate the stock market.
solve economic problems.

solve economic problems.

According to the graph above, in what year was the gap between the annual high and the annual low in the stock market largest?

 1920
 1926
 1929
 1932
According to the graph above, in what year was the gap between the annual high and the annual low in the stock market largest?

1920
1926
1929
1932

1929

Thousands of World War I veterans came to Washington, D.C., in 1932 to lobby Congress to

enact a bonus for war veterans and their families.
pass legislation giving veterans their promised bonuses early.
provide military jobs for unemployed veterans.
provide public works jobs for unemployed veterans.

pass legislation giving veterans their promised bonuses early.

Based on the graph above, what was the lowest price of stocks per share during this period?

 slightly less than $100 per share
 around $55 per share
 around $50 per share
 around $25 per share
Based on the graph above, what was the lowest price of stocks per share during this period?

slightly less than $100 per share
around $55 per share
around $50 per share
around $25 per share

around $50 per share

The Emergency Relief and Construction Act provided

direct relief to impoverished families.
direct relief to struggling banks and businesses.
loans to businesses willing to create jobs.
loans to the states for direct relief.

loans to the states for direct relief.

During the Great Depression, many farmers who were already under pressure from debt and falling prices were devastated by

drought and the “Dust Bowl.”
homelessness and “Hoovervilles.”
migration and repatriation.
unemployment and bank closures.

drought and the “Dust Bowl.”

During the Great Depression, when a bank collapsed,

depositors lost their savings.
depositors were repaid if their accounts were insured.
the government covered the bank’s debts.
the government stepped in to run the bank.

depositors lost their savings.

In the early 1930s, to pay for public works projects that would create enough jobs, the government would have to raise taxes or

borrow money.
lay off federal employees.
print money.
reduce inflation.

borrow money.

Which of the following measures to address the Depression was enacted by Congress and signed by President Hoover only reluctantly?

the Emergency Relief and Construction Act
the Hawley-Smoot Tariff
the National Credit Corporation
the Reconstruction Finance Corporation

the Emergency Relief and Construction Act

During the 1930s, how many Americans went to the movies each week?

fewer than 10 million
fewer than 25 million
more than 50 million
more than 60 million

more than 60 million

What portion of the U.S. workforce was unemployed by 1933?

about 10%
over 15%
roughly 25%
slightly less than 40%

roughly 25%

President Hoover wanted state and city governments rather than the federal government to provide money directly to impoverished families, known as

bonuses.
credits.
income.
relief.

relief.

During the 1930s, dairy farmers in Georgia blocked highways and

protested against farm foreclosures.
protested low prices for agricultural products.
stopped court officers from foreclosing on farms.
stopped milk trucks, dumping the milk into ditches.

stopped milk trucks, dumping the milk into ditches.

During the Great Depression, many farmers were forced to turn their farms over to

banks that held their mortgages.
court officers.
government agencies.
nonpaying tenants.

banks that held their mortgages.

What happened when President Hoover asked the Federal Reserve Board to put more currency into circulation?

The Board agreed, but delayed taking action.
The Board refused to increase the money supply.
Congress passed a resolution supporting Hoover.
The Senate blocked the Board from taking action.

The Board refused to increase the money supply.

Although the Reconstruction Finance Corporation loaned about $238 million to banks, railroads, and building-and-loan associations by early 1932, it failed to

exercise sufficient caution.
increase its lending sufficiently.
raise prices on agricultural products.
reduce government spending.

increase its lending sufficiently.

In 1932, the press began calling the World War I veterans who were marching to Washington, D.C., to demand early payment of promised bonuses the

“Bonus Army.”
“Bonus Lobby.”
“Bonus Rebellion.”
“Bonus Veterans.”

“Bonus Army.”

While many immigrants chose to leave the United States as a result of the Great Depression, others

migrated to California in search of agricultural work.
supported relatives who had returned to their native countries.
were forced out by the government and by citizen groups.
worked with citizen groups to overcome prejudice.

were forced out by the government and by citizen groups.

“During [World War I] we necessarily turned to the government to solve every difficult economic problem. . . . When the war closed . . . we were challenged with a peacetime choice between the American system of rugged individualism and a European philosophy of diametrically opposed doctrines—doctrines of paternalism and state socialism.”—Herbert Hoover, campaign speech delivered October 22, 1928 Based on the excerpt, what can you conclude about how Hoover would respond to the Great Depression as president?

He would be hesitant to intervene in the economy.
He would greatly expand government spending for public works.
He would offer financial help directly to citizens.
He would propose greater government control over the economy.

He would be hesitant to intervene in the economy.

The original purpose of the Reconstruction Finance Corporation was to

administer public assistance programs.
make loans to businesses.
manage public works projects.
regulate the stock market.

make loans to businesses.

In his novel The Sound and the Fury, William Faulkner exposed the hidden attitudes of characters in a fictional Mississippi county using a technique called

continuing story line.
escapism.
regionalism.
stream of consciousness.

stream of consciousness.

According to the chart above, one cause for the decline in sales of automobiles in the years leading up to the Great Depression was

declining demand for oil.
increased unemployment.
a loss of demand.
the slowing of industry.

increased unemployment.

“[They have] one-room shacks usually about 10 by 12 feet, have no rug, no water, no bed. In one corner there is a little iron wood stove. Water must be carried from the faucet at the end of the street.”—John Steinbeck, from Dust to Eat: Drought and Depression What does the excerpt suggest about how the Great Depression affected Americans?

Americans pitched in to help each other through the hard times.
Many Americans struggled in truly desperate circumstances.
Most Americans had to make small but meaningful sacrifices.
Some Americans thrived despite the challenges they faced.

Many Americans struggled in truly desperate circumstances.

In May 1932, the Senate voted down a bill that would have

authorized early payment of World War I veterans’ bonuses.
given special tax cuts to members of the military.
guaranteed health care for all U.S. military veterans.
provided jobs to all military veterans.

authorized early payment of World War I veterans’ bonuses.

Thomas Hart Benton, Grant Wood, and other painters of the 1930s were referred to as the

journalist school.
realists.
regionalist school.
stream of consciousness.

regionalist school.

What weekly photojournalism magazine was introduced in 1936 by TIME magazine publisher Henry Luce to instant success?

America
Life
Newsweek
Guiding Light

Life

Causes of Great Depression 1. Banks borrowing too much money to people that could not pay it back. As time went on, banks stopped lending and thousands went out of business 2. Too many people borrowing money to use for …

Causes of the Great Depression ♦Uneven distribution of wealth ♦Stock market speculation “buying on the margin” ♦Excessive use of credit ♦Overproduction on consumer goods ♦Weak farm economy ♦Government policies ♦Global economic policies Black Tuesday ♦Stock market crash (Oct. 29, 1929) …

Herbert Hoover 1928; Republican; approach to economy known as voluntarism (avoid destroying individuality/self-reliance by government coercion of business); of course, in 1929 the stock market crashed; tried to fix it through creating the Emergency Relief and Construction Act and the …

Price Supports Attempt to help ease farmers’ financial problems by the government buying surplus or extra crops and selling them in Europe or abroad. Great Depression The period from 1929 to 1940 in which the nation suffered from a continuous …

Laissez faire Idea that government should not interfere in the economy Hoovervilles Popular name for shanty towns built by homeless people during the great depression WE WILL WRITE A CUSTOM ESSAY SAMPLE ON ANY TOPIC SPECIFICALLY FOR YOU FOR ONLY …

the day of the stock market crash october 29th, 1929 black tuesday another name for the periodic expansion & contraction of the economy business cycle WE WILL WRITE A CUSTOM ESSAY SAMPLE ON ANY TOPIC SPECIFICALLY FOR YOU FOR ONLY …

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