Multiple Choice
Identify the
choice that best completes the statement or answers the question.
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1.
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All of the following
preceded the onset of the Great Depression except
a. | declines in new building
permits | c. | a widening gap
between rich and poor | b. | large amounts of consumer debt | d. | large industrial investments in new
equipment |
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2.
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During the 1920s, which of
the following increased?
a. | farmers’
debts | c. | foreign demand for U.S. farm
products | b. | prices for farm products | d. | domestic demand for U.S. farm
products |
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3.
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Who ran against Herbert
Hoover in the 1928 presidential election?
a. | Fred
Hartley | c. | Calvin
Coolidge | b. | Alfred E. Smith | d. | Franklin D. Roosevelt |
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4.
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What happened on Black
Tuesday?
a. | A record number of banks
closed. | c. | A record number of
people tried to sell their stock | b. | A record number of businesses declared
bankruptcy | d. | The New York Stock Exchange went out
of business |
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5.
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Price supports are initially
provided by
a. | farmers | c. | government. | b. | consumers | d. | stockholders |
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6.
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The Dust Bowl was caused by
all of the following except
a. | drought. | c. | crop rotation | b. | high winds | d. | overproduction of crops |
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7.
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The Dust Bowl created a
migration of people moving mainly
a. | east | c. | north. | b. | west. | d. | south |
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8.
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The phrase “buying on
margin” refers to a way of purchasing
a. | land. | c. | farm products | b. | stock | d. | consumer goods |
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9.
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Soon after the stock market
crash, Herbert Hoover attempted to help the economy by
a. | closing
banks | c. | constructing low-income
housing | b. | lowering the tariff | d. | asking businesses not to lay off
employees |
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10.
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In calling shantytowns
“Hoovervilles,” people conveyed their
a. | patriotism | c. | disgust with Hoover | b. | trust in Hoover | d. | grudging respect for Hoover |
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11.
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Which of the following was
an unintended effect of the Hawley-Smoot Tariff Act?.
a. | a substantial increase in U.S.
exports | c. | a substantial
increase in U.S. consumer debt | b. | a substantial decrease in U.S. exports | d. | a substantial decrease in U.S. consumer
debt |
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12.
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The main purpose of the
Federal Home Loan Bank Act was to
a. | encourage new
construction | c. | make it easier for
banks to foreclose on farms and homes | b. | increase the value of homes and farms | d. | prevent farmers and homeowners from losing their
property |
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13.
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The Bonus Army consisted
of
a. | World War I veterans and their
families. | c. | unemployed
industrial workers and their families | b. | farmers forced off their land by dust
storms. | d. | business and labor leaders who agreed to work
together |
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14.
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Who ran for president in the
1932 election?
a. | Calvin Coolidge and Herbert
Hoover | c. | Herbert Hoover and Alfred E.
Smith | b. | Calvin Coolidge and Franklin D. Roosevelt | d. | Herbert Hoover and Franklin D. Roosevelt
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15.
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During the 1920s, stock prices
rose because
a. | money was decreasing in
value | c. | investors who held stock in
companies refused to sell it. | b. | U.S. corporations were steadily making larger
profits | d. | investors were paying more for stock than it was actually
worth |
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16.
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During the 1920s, which of the
following was true of farming conditions?
a. | Prices for farm products
rose. | c. | Foreign demand for U.S. farm
products rose | b. | Farmers paid off most of their debts. | d. | More crops were produced than could be
sold |
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17.
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Which of the following occurred
first?
a. | the election of Herbert
Hoover | c. | a decline in new house
construction | b. | the start of the Great Depression
| d. | a significant loss of faith in the stock
market |
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18.
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Whose fortunes were most
dramatically changed on the day known as
a. | farmers | c. | stock market investors | b. | bankers | d. | big-business executives |
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19.
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When did key American
industries first begin showing signs of being in financial trouble?
a. | in the years between World War I and
the stock market crash | c. | n the years
between the stock market crash and the passage of
the Hawley-Smoot
Tariff | b. | when the stock market crashed | d. | shortly after the Hawley-Smoot Tariff went into
effect |
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20.
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Price supports are intended to
provide the most benefit for
a. | producers of
goods | c. | the federal
government | b. | consumers of goods | d. | state and local governments |
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21.
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To buy stock on margin means
that the buyer
a. | buys stock at a high price and sells
it at a loss | c. | borrows part of
the purchase price of the stock | b. | buys stock at a low price and sells it at a
profit. | d. | agrees to split any potential gain or loss with the
stockbroker |
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22.
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Who ran for president in the
1928 election?
a. | Herbert Hoover and Alfred E.
Smith | c. | Calvin Coolidge and Herbert
Hoover | b. | Herbert Hoover and Franklin D. Roosevelt | d. | Calvin Coolidge and Franklin D.
Roosevelt |
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23.
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To fight the Great Depression,
Herbert Hoover did all of the following except
a. | ask labor leaders not to
strike | c. | set aside funds for large public
works projects. | b. | set aside funds to be used to feed the
hungry | d. | encourage business leaders not to lay off
workers |
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24.
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When the Great Depression
began, soup kitchens and bread lines
were mainly run by
a. | corporations. | c. | local and state government agencies. | b. | charitable institutions | d. | state and federal government
agencies |
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25.
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The main purpose of the
Hawley-Smoot Tariff Act was to
a. | protect U.S.
businesses | c. | decrease consumer
debt in the United States | b. | encourage international trade | d. | discourage foreign nations from buying U.S.
goods |
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26.
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The main purpose of the
Reconstruction Finance Corporation was to
provide emergency help for
a. | farmers | c. | the urban poor | b. | homeowners | d. | large businesses |
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27.
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Who gave the order to remove
the Bonus Army from its camp in the
nation’s capital?
a. | Congress | c. | the president | b. | the military | d. | the local police |
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28.
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The Great Depression lasted
from
a. | 1929 to
1932 | c. | 1932 to
1941 | b. | 1929 to 1941 | d. | 1932 to 1945 |
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