The Great Depression and the New Deal

What happened to banks and businesses after the stock market crashed?

• They experienced unprecedented growth

• They remained largely unaffected

• Banks and businesses failed

• They received large government subsidies

What caused the suffering of the Great Depression?

• Rapid economic expansion

• Widespread joblessness and poverty

• Technological advancements

• International peace and cooperation

How did President Hoover respond to the Great Depression?

• By immediately implementing government aid programs

• By relying on cooperation and voluntary action

• By resigning from office

• By declaring a national holiday

What event in 1929 revealed weaknesses in the American economy and helped trigger a spreading economic crisis?

• The election of Herbert Hoover

• The start of World War II

• The stock market crash of 1929

• The end of the Roaring Twenties

What is the gross national product?

• The total value of a nation's exports

• The total value of all goods and services produced in a nation

• The total amount of money a nation owes

• The total income of a nation's government

Who was the Republican president elected in 1928?

• Calvin Coolidge

• Franklin D. Roosevelt

• Herbert Hoover

• Harry S. Truman

What does buying on margin mean?

• Purchasing stocks with the intention of selling them at a margin of profit

• Buying stocks with loans from stockbrokers

• Buying a small portion of a company's stocks

• Investing in the stock market without any risk

What was the date of Black Tuesday, the worst day of the stock market crash?

• October 24, 1929

• October 29, 1929

• November 2, 1929

• December 25, 1929

Which group of people did not prosper during the 1920s?

• Stockbrokers

• Farmers and certain other workers

• Business owners

• Bankers

What percentage of people did not earn enough to have a good standard of living in 1929?

• 50%

• 60%

• 70%

• 80%