WorksheetsThe Great Depression
Total questions: 10
Worksheet time: 8mins
Name
Class
Date
1.
When demand falls for durable goods such as houses, furniture, appliances and cars, workers who produce those goods tend to lose jobs and income, and a multiplier effect occurs. The meaning of the term multiplier effect is that
a)
demand for nondurable goods increases and more workers are hired in these industries.
b)
laid-off workers spend less, which reduces demand and therefore jobs in other industries.
c)
the government multiplies its spending to compensate for the fall in demand in durable-goods industries.
d)
the Federal Reserve System increases the money in circulation in order to increase demand.
2.
Which of the following two-part conditions tends to cause unemployment?
a)
A decrease in consumer and business spending and an increase in the money supply
b)
An increase in consumer and business spending and an increase in the money supply
c)
An increase in consumer and business spending and an increase in the money supply
d)
A decrease in consumer and business spending and a decrease in the money supply
3.
What date is considered "Black Tuesday?"
a)
Sep. 24, 1929
b)
Oct. 29, 1929
c)
Dec. 7, 1929
d)
Oct. 31, 1929
4.
When one person’s spending becomes income to another person, who in turn can spend more and add to the income of others, this is called the...
a)
Doppler Effect
b)
Butterfly Effect
c)
Division Effect
d)
Multiplier Effect
5.
Expensive items that don’t wear out quickly are called...
a)
Consumer Goods
b)
Durable Goods
c)
Export Goods
d)
Wonderful Goods
6.
What was NOT a cause of the Great Depression?
a)
Government Mistakes
b)
Droughts
c)
Debt
d)
State lottories
7.
Who was President at the start of the Great Depression?
a)
Truman
b)
Hoover
c)
Roosevelt
d)
Trump
8.
A shanty town built during the Great Depression by the homeless in the United States. They were named after Herbert Hoover, who was President of the United States during the onset of the Depression and was widely blamed for it.
a)
Herbertvilles
b)
"Hobo-town"
c)
"Hooverville"
d)
"Herbert Estates"
9.
The system by which the value of a currency was defined in terms of gold, for which the currency could be exchanged.
a)
Silver Standards
b)
Gold Standard
c)
Platinum Standard
d)
Iron Standard
10.
Occurs when a large number of customers of a bank or another financial institution withdraw their deposits simultaneously due to concerns about the bank's solvency.
a)
Bank Run
b)
Deposit Run
c)
Bank Robbery
d)
Bank Deposit
100 %
