Great Depression Review

What was the Great Depression?

• A period of economic success and an improving economy

• The worst economic catastrophe in U.S. history

• A period of time that witnessed American involvement in violent foreign wars

• A hotly contested presidential election

How did an economic recession help cause the Great Depression?

• Americans bought less, causing less demand for goods

• Bank runs caused depositors to withdraw all their money from banks

• The market bubble popped, crashing Wall Street

• Low interest rates encouraged risky speculation

President Herbert Hoover believed the economy could be revived by

• A very hands-on government

• Providing government assistance to the American people

• 
  laissez faire, trickle down economics and rugged individualism

• Creating many New Deal programs

Which TWO answers best describe Franklin D. Roosevelt's presidency during the Great Depression?

• Very active hands-on gov't with business

• Mostly hands-off gov't with business

• Created many New Deal Programs

• Created a tariff that hurt American economy

"Section 202. (a) Every qualified individual shall be entitled to receive.. . on the date he attains the age of sixty-five,.. . and ending on the date of his death, an old-age benefit. . ."

 

A major purpose of this section of Federal legislation was to

• assure adequate medical care for the elderly

• guarantee an annual income to experienced employees

• provide economic assistance to retired elderly workers

• reward workers for their support of the union movement

Which situation was a basic cause of the Great Depression?

• excessive profits for farmers

• overregulation of the stock market

• overproduction of consumer goods

• continued increases in wages for workers

What were causes of the Dust Bowl during the early 1930s?

• strip mining and toxic waste dumping

• over farming, severe drought and high winds

• clear-cutting of forests and construction of railroads

• overpopulation and urban sprawl

What was the most likely cause of the election results shown on the map?

• Most voters blamed President Herbert Hoover for the Great Depression.

• It is difficult to defeat an incumbent (sitting) president.

• Franklin D. Roosevelt had more business experience than Herbert Hoover.

• Republican Party popularity had been declining for several elections.

A major cause of the economic depression of 1929 was

• abuse of credit and installment buying

• a return to the gold standard.

• increased number of public works projects.

• government programs designed to reduce agricultural production.

An obvious defect in the United States' banking system that was exposed during the Great Depression was

• excessive government regulation of banks.

• the federal government's ownership of banks.

• an excessive amount of currency in circulation.

• the lack of protection for funds deposited by individuals in banks.