Great Depression

What was one of the NEGATIVE effects of the Smoot-Hawley tariff?

• protected U.S. industry

• reduced U.S./European trade by about 40%

• increased prices for U.S. steel

• slowed the Chinese economy

Which of the following was NOT an effect the Great Depression had on families?

• lowered the instance of alcohol abuse

• caused malnutrition in children

• caused people to marry later or not at all

• raised suicide rates

Which of the following is the term to describe cash payments or food donation by the government?

• WPA

• Social Security

• direct relief

• CCC

Why did President Hoover believe in a "hands off" approach to dealing with the Depression?

• He was cold-hearted

• he didn't want to appear weak

• he was a foreign agent

• he didn't want to make the problem worse

What did the Bonus Army want?

• to overthrow the government

• early payout of its "bonus" for serving in WWI

• $ payments to all American males

• health insurance

How high was unemployment by 1933?

• 10%

• 40%

• 25%

• 3%

What was the popular term for October 29, 1929?

• Groundhog Day

• Black Tuesday

• Black Friday

• Gloomy Sunday

Why did farmers begin to have problems during the 1920's?

• demand for agricultural goods fell but production increased

• demand and supply remained the same

• demand increased and production decreased

• demand and supply increased

Which of the following is NOT one of the causes of the Great Depression?

• too much credit too easily available

• inequality of wealth (rich getting richer; poor getting poorer)

• key industries struggling to be profitable

• too much welfare

Buying on margin is

• paying 10% of a stock's price down and borrowing the rest of the cost

• buying and selling a stock in less than 24 hours

• speculation

• the same as "buy and hold"