Quick Review of Great Depression

What was the approximate value of one US dollar in German Marks at the lowest point of Germany's hyperinflation in 1923?

• 100,000 German Marks

• 1,000,000 German Marks

• 1,000,000,000 German Marks

• 1,000,000,000,000 German Marks

What was a significant underlying issue that made the stock market's booming economy an illusion before the 1929 crash?

• The market was primarily driven by professional speculators, excluding ordinary people

• Share prices were climbing exponentially, but the real economy was slowing down

• Most people were buying stocks with cash, leading to a lack of liquidity

• The government heavily regulated stock purchases, stifling growth

Which of the following was NOT a factor contributing to the booming economy in the United States during the 1920s?

• Repeated tax cuts to encourage spending

• Increased wages and consumerism

• The rise of the automobile industry

• A thriving global market for new goods

What was a major consequence for small banks across America during the years 1930-1933?

• They received significant government bailouts to prevent collapse

• They were unable to deal with the sudden rush of people trying to withdraw cash

• They merged with larger banks to form national institutions

• They shifted their focus to international lending due to domestic stability

What percentage of the labor force was unemployed during the early stages of the Great Depression?

• 5-10%

• 10-15%

• 20-30%

• 40-50%

What was a significant consequence of the Smoot-Hawley Tariff Act of 1930?

• It led to a boom in international trade.

• It caused a 30% drop in the US stock market and retaliatory tariffs from other countries.

• It primarily benefited American farmers by increasing crop exports.

• It stabilized the global economy and reduced unemployment.

Which of the following was a primary goal of Franklin D. Roosevelt's New Deal program?

• To promote isolationism and reduce international trade.

• To provide relief, reform the economic system, and promote recovery.

• To increase agricultural production and lower crop prices.

• To reduce government spending and balance the federal budget.

Which two New Deal acts were declared unconstitutional by the Supreme Court during the early 1930s?

• The Wagner Act and the Social Security Act.

• The Public Works Administration and the Federal Writers' Project.

• The Agricultural Adjustment Act and the National Industrial Recovery Act.

• The Glass-Steagall Act and the Smoot-Hawley Tariff Act.