Understanding the Great Depression

Who is the host of Crash Course U.S. History?

• Herbert Hoover

• John Green

• David Kennedy

• John Maynard Keynes

What event is often mistakenly thought to have caused the Great Depression?

• The invention of the tractor

• The signing of the Versailles Treaty

• The stock market crash in October 1929

• World War I

What was a major factor in the agricultural sector's struggle during the 1920s?

• The gold standard

• Overproduction and low prices

• Lack of mechanization

• Prohibition

What did Herbert Hoover label the speculation in the stock markets that began in 1927?

• An economic boom

• A necessary evil

• An orgy of mad speculation

• A financial revolution

What was the primary cause of the Great Depression, according to the video?

• America's weak banking system

• The stock market crash

• World War I

• The Hawley Smoot tariff

What did the Federal Reserve fail to do, contributing to the Great Depression?

• Raise interest rates

• Support agricultural production

• Rescue the banks and infuse money into the economy

• Implement the gold standard

Why is deflation considered much worse than inflation?

• It leads to higher prices

• It causes banks to lend more money

• It results in businesses cutting costs by laying off workers

• It increases the value of money

What did the Hoover administration not have, which could have helped address the Great Depression?

• The General Theory of Employment, Interest and Money

• A strong military

• A TARDIS

• The internet

What global event did Herbert Hoover blame for the Great Depression in his memoirs?

• The invention of the automobile

• World War I

• The stock market crash

• The signing of the Versailles Treaty

What was the effect of the Hawley Smoot tariff?

• It ended the Great Depression

• It led to fewer buyers for American goods and less trade

• It lowered prices of goods

• It increased world trade