Causes and Effects of the Great Depression

By 1929, more money is spent on ______________ in America than on education.

• Stocks

• Entertainment

• Advertising

• gambling

The economic boom of the 1920s is built on ______________.

• Consumer Goods

• Hollywood

• Oil

• Credit

By 1929, what percent of Americans have no money in savings at all?

• 40%

• 60%

• 80%

• 90%

Which of the following statements accurately describes the American economy during the 1920s?

• Farmers experienced unprecedented prosperity alongside urban growth.

• The economic boom was largely fueled by widespread consumer credit and speculative stock valuations.

• Government spending on education significantly outpaced advertising expenditures.

• The majority of Americans had substantial savings, indicating financial stability.

What event triggered the widespread panic and loss of confidence in the Bank of United States in December 1930?

• A sudden increase in interest rates by the Federal Reserve.

• A newspaper article questioning the bank's stability and an abandoned merger.

• The bank's announcement of its immediate closure due to insolvency.

• A government mandate forcing all citizens to withdraw their savings.

What types of regulations does the Federal Government have on banks during the 1920s?

• None

• Limited protections

• Very strict laws and protections

What did the man in the video do to cause a "bank run" and panic causing the bank to have to shut down?

• He robbed the bank by gun point.

• He organized a plot to attack the bank using hired thugs.

• He spread a false report that the bank refused to sell his stock for him.

• He got support from the Mayor of the city.

How much money was withdrawn from the Bank of the U.S. in the video in one day as a result of the bank run?

• $2 million

• $2 billion

• $200 million

• $200,000

In the last 60 days of 1930, how many banks were forced to shut down in the U.S?

• 60

• 600

• 6000

• 60,000

Unemployment in the U.S. in 1930 went from 4 million to _____ million in 1932.

• 8 million

• 12 million

• 18 million

• 28 million