Great Depression Quiz

What was the primary cause of the Great Depression according to the text?

• Weak banking system

• Stock market crash

• High tariffs

• Overproduction in agriculture

What did the Federal Reserve system fail to do during the Great Depression?

• Abandon the gold standard

• Support agricultural production

• Infuse money into the economy

• Provide emergency loans to banks

What was the purpose of the Reconstruction Finance Corporation created in 1932?

• To stimulate the economy through infrastructure projects

• To provide emergency loans to banks and corporations

• To support agricultural production

• To encourage private charity

What was the impact of the Revenue Act of 1932 on the Great Depression?

• It stabilized the banks and balanced the federal budget

• It provided confidence for foreign creditors

• It made the depression worse

• It increased private charitable giving

What was the main reason for the increase in unemployment during the Great Depression?

• Frozen credit system

• Overproduction in agriculture

• Lack of government intervention

• High tariffs

What was the primary response of the Hoover administration to the Great Depression?

• Abandon the gold standard

• Engage in Keynesian pump priming

• Create the Reconstruction Finance Corporation

• Encourage private charity through the President's Organization on Unemployment Relief

What was the impact of the Hawley Smoot tariff on the global economy?

• Increased world trade

• Stimulated the American industry

• Led to fewer buyers for American goods

• Reduced unemployment in big cities

What was the main reason for the failure of the American banks during the Great Depression?

• High tariffs

• Weak banking system

• Overproduction in agriculture

• Lack of government support

What was the purpose of the Federal Farm Board during the Great Depression?

• To stimulate the economy through infrastructure projects

• To support agricultural production

• To encourage private charity

• To provide emergency loans to banks and corporations

What was the impact of the Federal Reserve raising its discount rate during the Great Depression?

• Made credit even harder to come by

• Stabilized the banks

• Increased credit availability

• Infused money into the economy