(Unit 7) BA quiz 1

The Great Depression was an economic slowdown in the 1920s and 1930s. Which of the following was one cause of the Great Depression in the United States?

• the end of the gold rush 
• the crash of the stock exchange 
• the ending of World War II 
• the high price of oil 

In 1929, the stock market crash was the beginning of the "Great Depression." Which of the following BEST describes the Great Depression?

• The depression was severe, but only in the United States. 
• Governments acted quickly and the depression only lasted two years
• The depression caused revolutions all across the world. 
• Many countries around the world experienced the economic depression

In 1929, the United States entered an economic slowdown called the Great Depression. One of the early events was the stock market crash. What was a major cause of the stock market crash?

• Stock prices went up so fast that investors could not keep up with the changes. 
• Stock prices fell, investors panicked and sold their stocks, which led to more panic. 
• The government decided to close the stock market in New York. 
• People decided to invest their money in stock markets in Europe. 

How did the 1929 stock market crash affect the United States economy in the 1930s?

• Unemployment reached its highest level in United States history. 
• Congress voted to reject New Deal policies. 
•  Stock prices were higher than investors could afford.    
• Agriculture replaced manufacturing as the primary industry. 

Herbert Hoover helped the United States by coming up with many programs to help Americans get out of the Great Depression.  These programs were known as the New Deal. 

• True
• False

The stock market crash of 1929 was one of the main causes of the Great Depression.  On this one day, October 29, 1929, the stock market lost $14 billion.  This day is known as ________________.

• Bad Tuesday
• Poor Tuesday
• Black Tuesday
• Crash Tuesday

After the Stock Market Crash, many people lost their life savings because _______________.

• banks closed
• banks gave away their money
• they couldn't remember where they put it
• someone stole it

This cause led many businesses to close, because they were producing more goods than consumers were willing to buy.

• Overproduction 
• Underconsumption 
• Buying on Credit 
• Stock Speculation 

This is making a very risky investment in the stock market, in hopes of earning a large profit

• Speculation 
• Buying on Margin 
• Bank Run 
• Bull Stock 

A way of borrowing money from a bank or finance company so that you can have what you want and pay for it later

• Speculation 
• Buying on Credit 
• Buying on Margin 
• Overproduction