Great Depression Quiz

What were the causes of the Great Depression?

• All of the above

• Uneven division of wealth and stock market crashes

• Depressed farming and credit

• Overproduction and under-consumption of consumer goods

What was the minimum income needed for a decent standard of living in the 1920s?

• $5,000 per year

• $10,000 per year

• $2,500 per year

• $1,000 per year

What led to the decline in agricultural products and the foreclosure of farms?

• Post-war debts in Europe

• Lack of confidence in the future

• Heavy droughts and over-farming

• Lack of funds in banks

What did many Americans use to live beyond their means?

• Loans

• Credit

• Savings accounts

• Investments

What did people do to pay for stocks in the 1920s?

• Used their saving

• Sold their assets

• Borrowed money, Buying on margin

• Received government grants

What happened on October 29, 1929, also known as 'Black Tuesday'?

• The stock market crashed

• The Great Depression began

• The Dust Bowl started

• President Hoover took office

What was the impact of the stock market crash on investors?

• They withdrew their money from banks

• They paid off their debts

• They gained huge profits

• They lost $30 billion

What led to the collapse of the U.S. financial system during the Great Depression?

• Financial regulations

• Foreign trade restrictions

• Bank failures

• Consumer confidence

What did President Hoover initially call for to end the Depression?

• Bold government action

• Building projects to create jobs

• Volunteerism and rugged individualism

• Relief checks for the unemployed

What did the Dust Bowl refer to during the Great Depression?

• The collapse of the U.S. financial system

• The decline in agricultural products

• The shantytowns where homeless Americans lived

• The massive windstorms in the West