Great Depression - Post-Break Review

One major weakness of the 1920s economy was that consumer spending was largely fueled by…

• rising wages

• government stimulus

• credit and installment buying

• foreign investment

Why were farmers already struggling before 1929? (Choose the best answer)

• Lack of new technology

• Overproduction and falling prices

• No taxes on farm goods

• Loss of overseas markets after WWI

The late 1920s stock market was a period of extreme speculation. What made this speculation so dangerous?

• Banks were investing heavily in risky markets instead of businesses

• Too few people owned stock

• The government forced people to speculate

• The stock market was over regulated

What actually made the Great Depression “great” (in scale and severity)?

• The stock market crash alone

• Losses suffered by wealthy investors

• Massive unemployment and economic hardship

• The collapse of foreign economies

If John Green had to name ONE primary cause of the Great Depression, he would choose…

• The gold standard

• High tariffs

• America’s weak banking system

• Government overspending

Why did the Hawley-Smoot Tariff worsen the Great Depression?

• It increased government debt

• It leveled out prices for American consumers

• Other countries retaliated, reducing world trade

• It caused inflation

Why was staying on the gold standard a problem during the Depression?

• It caused inflation

• It limited the government’s ability to expand the money supply

• It encouraged speculation

• It weakened the dollar internationally

Which best describes Hoover’s overall response to the Great Depression?

• He did absolutely nothing

• He relied heavily on direct federal aid to individuals

• He took limited action but avoided full federal control

• He immediately adopted New Deal–style programs

Which BEST captures daily life during the Great Depression?

• Widespread optimism and recovery

• Temporary hardship limited to cities

• Breadlines, Hoovervilles, and mass unemployment

• Economic suffering mostly overseas

Who were the “Bonus Marchers,” and what were they demanding from the federal government?

• Unemployed factory workers demanding higher wages

• Farmers protesting falling crop prices

• Bankers demanding federal bailouts

• World War I veterans seeking early payment of promised bonuses