The Great Depression

What happens when there is a bank run and a bank begins to collapse?

• depositors lost their money if they didn't get to the bank before it shut down.

• the government covered the bank's debts.

• depositors were repaid if their accounts were insured.

• the government stepped in to run the bank

When more goods are produced than people can afford to buy and one of the reasons for the Great Depression...

• Deflation

• Inflation

• Overconsumption

• Overproduction

Farmers who had already seen overproduction and bankrupt farms in the 1920s, were later ruined because of...

• Bank failures

• Drought and the Dust Bowl

• Migration and Repatriation

• Unemployment and bank closures

During the Great Depression, many people's homes were foreclosed upon and became homeless. To show displeasure with the President they named their new shacks and shantytowns...

• Hotels

• Veteran Camps

• Hoovervilles

• Retirement Homes

Over a three year period in the 1930s, a drought occurred across Texas, Oklahoma, and Kansas. As a result, the wind would pick up a lot of dry soil and create what was called .....

• Black Tuesday

• The Rose Bowl

• The Dust Bowl

• The Hunger Bowl

After the stock market crashed, what did President Hoover do?

• He gave bonus checks to Americans to help them pay bills

• He created a government safety net to help jobless Americans

• He created the Social Security Administration to give retired and disabled people a guaranteed income

• He offered no help as he believed Americans should "pull themselves up by their bootstraps"

When the stock market crashed in October 1929, the overall market lost between 10 and 15 billion dollars because...

• banks were being forced to close

• companies were being forced out of business

• investors were selling stocks off as quickly as possible to avoid losses

• the government was getting involved in the stock market

A long period of stock price increases convincing people to buy stocks because they believe they will make a lot of money is called...

• A Bear Market

• A Jackrabbit Market

• A Bull Market

• A Nose Dive Market

In 1932, many WW1 veterans came to Washington D.C. because they wanted ....

• a law that would eliminate the draft

• a law that would give veterans their bonuses early.

• a law that would provide military jobs for unemployed veterans

• a law providing public works jobs for veterans

When the stock market crashed and led to economic depression, President Hoover believed that ...

• the government should provide stimulus checks to Americans

• People should take care of themselves and not rely on government help

• The government should provide a safety net so that people are financially secure when they lose their jobs

• The government should draft into the military all those who were unemployed.