Great Depression

Which of the following was a major cause of the Great Depression?

• overproduction and underconsumption
• a decrease in the supply of consumer goods
• an increase in demand for imported products
• an increase in the price of wheat on the world market

Who was the President of the United States when the Stock Market crashed?

• Franklin D. Roosevelt
• Herbert Hoover
• Woodrow Wilson
• Theodore Roosevelt

How did "bank runs" impact the American people during the Great Depression?

• Banks eventually ran out of money to loan, and people's life savings were gone.
• Banks made loans throughout the Great Depression, helping people pays bills until they could find work.
• Banks were able to people's deposits safe, but they could not loan out any more money.
• Banks were not at all involved in the Great Depression because people did not use them.

What was the main reason for the emergence of “Hoovervilles” like the one shown in the photograph?

• Many Americans had lost jobs during the Great Depression.
• Thousands of homes had been destroyed by the effects of the Dust Bowl.
• Housing projects could not keep up with the demand for homes needed by the poor.
• Preparations for World War I had created a shortage of building materials.

During the 1930s, poor land management and severe drought conditions across parts of the Midwest resulted in the

• formation of the United States Department of Agriculture
• creation of wheat surpluses
• growth of the Populist movement
• development of Dust Bowl conditions on the Great Plains

Which of these statements is true of the 1932 presidential election?

• Franklin Roosevelt won in a landslide.
• Hoover lost by a narrow margin.
• Huey Long ran a strong third-party campaign.
• Roosevelt won a third term.

A major difference between the philosophies of President Herbert Hoover and President Franklin D. Roosevelt in responding to the Great Depression is that Roosevelt

• wanted to rely on private charities to provide assistance
• stressed the need for individual rugged individualism
• supported direct relief to people out of work
• thought the government should not be involved in economic reform

The day the stock market crashed is known as:

• Black Monday
• Black Tuesday
• Black Wednesday
• Black Thursday

FDR's plan to fix the American Economy was called:

• The New Deal
• Reaganomics
• Economic Injection
• The "band-aid" Solution

Buying on margin means:

• buying stocks at a fraction of their price, with the promise of paying the rest later
• planning out your budget to make sure you have enough to get by
• Buying a few stocks from many companies to ensure profit
• Pouring all of your money into one stock in order to ensure profit