The Great Depression Begins

What was the name for the total value of goods an services produced in a nation during a specific period?

• Wealth distribution

• Stock value

• Gross national product

• Foreclosers

What happened to the personal savings rate during the 1920s?

• it increased noticeably

• it increased somewhat

• it decreased somewhat

• it decreased noticeably

Black Tuesday included which of the following?

• A race to take advantage of low stock prices

• Herbert Hoover's internvention in the stock market

• An effort by leading bankers to prevent a further collapse in stock prices

• A huge drop in the value of the stock market

What is the practice of purchasing stocks with loans from stockbrokers called?

• security buying

• buying on credit

• buying on margin

• foreclosing

How were businesses affected by the stock market crash?

• They were forced to hire more workers

• They lost large amounts of money on the stock market

• They received large loans from the government

• they lost money as customers cut back their spending

What is the name for a bank or lender taking over ownership of a property from an owner who has failed to make loan payments?

• foreclosure

• bank run

• bankruptcy

• margin call

How did European nations respond to the crisis?

• by passing high tariffs

• by loaning money to the U.S. government

• by hiring American workers

• by exporting more products

What was a Hooverville?

• another name for the White House

• a shantytown full of homeless people

• a farm that suffered foreclosure

• a town that was given assistance by the federal government

Which of the following was one of the human causes of the Dust Bowl?

• careless agricultural practices

• the use of tractors

• the drought

• buying on margin

What was the name given to people that left the Great Plains during the 1930s?

• refugees

• Okies

• hoboes

• Hoovers