Great Depression

Black Tuesday refers to a financial catastrophe on October 29, 1929, where ______.

• The Great Depression officially ended

• An embargo wiped out half of the U.S. exports

• U.S. Treasury printed too much money

• The U.S. Stock Market lost more than half its value

Who was president at the time of the Stock Market Crash of 1929?

• Abraham Lincoln
• Franklin D. Roosevelt
• Theodore Roosevelt
• Herbert Hoover

What were the villages full of shacks located in cities filled with unemployed Americans called?

• Hoovervilles
• Okies
• Bonus Army Bases
• Rooseveltowns

Prior to the Stock Market crash, many Americans were buying large shares "on the margin." What did this mean?

• Full payment on a loan prior to buying stock

• Giving a small down payment with the hopes of paying off the loan by gains in the Stock Market

• Buying only the smallest shares possible

• Investing in the Steel and Oil industries

Buying stocks that are High Risk, High Reward refers to....?

• Speculation

• Bull Market

• Buying on the Margin

• Bank Run

Which of the following reflects the reason the United States witnessed a surge of people buying on credit

• High amounts of immigration causing economic inflation

• Germany defaulting on American loans

• Prices of home and luxury items increasing while worker wages stayed the same

• Robber Barons forming large monopolies on American industry

When the Stock Market is on a steady increase, where people are buying more than selling, this refers to a _____________

• Bear Market

• Bull Market

• Balanced Market

• Bank Run

President Hoover did not want the government to actively respond to the worsening depression, because he believed it would lead to ______ government spending and that the economy would ______.

• too much --- fix itself

•  loose --- never fully recover

•  restrictive --- fix itself slowly

• too little --- fall apart

Which of the following was NOT a cause to the Great Depression of the 1920s and 1930s?

• fast rising of the 1920s economy

• low tariffs on foreign goods

• too much buying on credit

• Germany continuing to default on American loans

During the Great Depression, when a bank collapsed and closed, the ______.

•  depositors lost their savings

• depositors were guaranteed 20% repayment

•  govt. repaid deposits on insured accounts only

•  govt. covered the bank’s debts